UPDATE: Barrington Research Initiates Carriage Services at Outperform on Revenue on Growth Outlook
Barrington Research initiated coverage on Carriage Services (NYSE: CSV) with an Outperform rating and a $15 price target.
Barrington Research commented, "Based in Houston, Carriage Services is a leading provider of “death care” services and merchandise in the U.S. With a network of 159 funeral homes and 33 cemeteries in 26 states, CSV is the third largest funeral home operator by revenues ($194 million LTM). … With a renewed focus on operational excellence, the company introduced a Standard Operating Model that focuses on the key drivers of a successful operation. In our view, this “owner” versus “employee” framework enables constant performance improvement at the field level which should drive same-store revenues (we expect “low single-digit” growth) higher in the long run."
Carriage Services closed at $11.17 on Tuesday.
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