UPDATE: Piper Jaffray Raises PT on LHC Group on Q4 Earnings, FY13 EPS Guidance
In a report published Monday, Piper Jaffray reiterated its Overweight rating on LHC Group (NASDAQ: LHCG), and slightly raised its price target from $21.00 to $22.00.
Piper Jaffray noted, “Organic admissions growth of 5.6% was solid and the company continues to receive an increasing amount of inbound calls about hospital partnership opportunities. Although the recently completely Addus Home Health acquisition is expected to be neutral to FY13 earnings, we believe Addus could approach corporate margins in 2014 and accretion could be in the neighborhood of $0.20-$0.25 assuming 100 bps of overall G&A leverage.”
LHC Group closed on Friday at $20.35.
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