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Fly News Breaks for November 20, 2017
LHCG, AFAM
Nov 20, 2017 | 07:32 EDT
As noted earlier, RBC Capital analyst Frank Morgan downgraded Almost Family (AFAM) to Sector Perform from Outperform but raised his price target to $62 from $54 to reflect the implied pricing of the merger announced last week. Morgan says the stock-for-stock transaction with LHC Group (LHCG) is positive, creating the largest in-home service provider in the industry. The analyst also notes that given the low overlap in the two companies' operations, he does not anticipate any antitrust issues related to the merger.
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