In a report published Monday, RBC Capital Markets analyst Frank G. Morgan downgraded the rating on LHC Group LHCG from Sector Perform to Underperform, and lowered the price target from $20.00 to $17.00.
In the report, RBC Capital Markets noted, “We do not believe the market is adequately pricing in Home Health earnings downside from the forthcoming rebasing, and we are lowering our outlook for the segment. Note that Home Health stocks are up an average 11.5% since immediately prior to the proposed rule release, including LHCG up 0.8%.”
LHC Group closed on Friday at $22.71.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in