UPDATE: Piper Jaffray Raises PT on Amedisys on Rebasing Overhang Nearing An End

In a report published on Tuesday, Piper Jaffray analyst Kevin K. Ellich raised the price target on

from $8 to $12 and maintained a rating of Neutral. In the report, Piper Jaffray stated, "We believe shares of AMED could trade higher over the next few weeks as the home health rebasing overhang nears a conclusion. That said, we believe upside is limited as fundamentals remain relatively weak and AMED still has a few ongoing government investigations, e.g. SEC, DOJ, OIG, which creates yet another overhang for the stock." Amedisys closed on Monday at $12.43.