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Fly News Breaks for December 11, 2019
AHCO
Dec 11, 2019 | 07:10 EDT
SVB Leerink analyst Daniel Grosslight initiated coverage of AdaptHealth with an Outperform rating and $13 price target. In a research note to investors, Grosslight says AdaptHealth presents a compelling roll-up opportunity, with the potential to become the consolidator of choice in the large, growing and fragmented Home Medical Equipment industry which has been roiled by reimbursement pressure and is awash in sub-scale "mom and pops." The analyst thinks AdaptHealth will continue to take share in this market while serving as an attractive acquisition platform given its diverse product-line weighted towards sleep and respiratory, strong payor and referral relationships and "impressive" technology platform which allows for best in class margins, efficient capital deployment and rapid synergy realization.
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