In a report published Wednesday, Deutsche Bank analyst Darren Lehrich downgraded the rating on Amedisys AMED from Hold to Sell, and lowered the price target from $11.00 to $8.00.
In the report, Deutsche Bank noted, “AMED's Q3 miss provides further evidence that the co's operations are unstable, and its margin structure is on even shakier ground heading into re-basing. While the tentative DOJ settlement provides resolution on legacy issues, we believe the size of the fine ($150M), combined with the co's amended credit facility and a lower EBITDA run-rate severely limit AMED's flexibility going forward.”
Amedisys closed on Tuesday at $14.32.
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