Oppenheimer Comments On Addus Homecare's In-Line 4Q

Oppenheimer has published a research report on Addus Homecare Corporation ADUS after the company reported in-line 4Q results.

In the report, Oppenheimer writes "Addus reported 4Q10 EPS of $0.14, in line with our estimate and consensus. Core operating results were better than expected as a higher than expected tax rate had a ($0.02) impact. Furthermore, the company's home health business rebounded nicely while there was some positive movement in cash collections out of Illinois. Following the quarter, we are maintaining our FY2011 and FY2012 EPS estimates of $0.63 and $0.74, respectively."

Oppenheimer maintains its Outperform rating and $9 price target.

Addus Homecare closed yesterday at $4.69.