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UPDATE: Deutsche Bank Lowers PT on LHC Group on Good Q4 Results

Related LHCG
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Earnings Scheduled For March 5, 2014

In a report published Friday, Deutsche Bank reiterated its Buy rating on LHC Group (NASDAQ: LHCG), but slightly lowered its price target from $23.50 to $23.00.

Deutsche Bank noted, “Reiterate Buy: LHCG is a contrarian small cap value idea. Q4 results beat expectations and were underpinned by solid organic census growth in home-based segment (home health and hospice), in-line facilities segment performance and overall good cost control. While 2013 guidance fell short of consensus, we believe the impact of the Addus integration is a key factor in the outlook. We also note our previous model included accretive M&A and share buy back for 2013, thus making the comparison to LHCG's guidance format less relevant. We are trimming 2013 EPS to exclude buyback and reflect the Addus deal, but our 2014 EPS still points to very strong growth. We maintain Buy rating on compelling/contrarian value; PT $23 (from $23.50).”

LHC Group closed on Thursday at $21.24.

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


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