Information Provided By:
Fly News Breaks for December 10, 2019
ADUS
Dec 10, 2019 | 07:29 EDT
Oppenheimer analyst Michael Wiederhorn raised his price target for Addus HomeCare to $107 from $96 and maintained an Outperform rating, saying he believes the company's opportunities could drive upside to earnings beyond Street numbers. Wiederhorn tells investors in a research note that he believes Street estimates are not fully appreciating the earnings contribution of the recently approved Illinois rate increase, in addition to other factors such as organic growth, recent acquisitions, and the additional capital deployment, adding that all these could combine to establish a path for EPS/EBITDA to reach $3.43/$88M in 2020, well above Street consensus of $2.98/$78.8M.