Citi analyst Ralph Giacobbe views yesterday's selloff in Acadia Healthcare (ACHC) shares as overdone. The analyst attributes the 14% pullback to headlines suggesting Universal Health (UHS) would not be a potential acquirer of the company due to potential regulatory issues. Giacobbe, however, puts "much more credence" to a private equity buyer over Universal Health. The analyst sees Acadia's Q3 results as supporting a takeover bid given the "strong" U.S. performance offset by weaker U.K., which he notes could ultimately be divested by private equity or Acadia itself. To reflect pressures in the U.K., he lowered his price target for Acadia Healthcare shares to $43 from $46. The stock closed yesterday down $5.93 to $36.01. Giacobbe keeps a Buy rating on the name.

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