Lake Street analyst Brooks O'Neil raised his price target for BioScrip to $10 from $4.50 following yesterday's first investor day under the leadership of Dan Greenleaf. The company's business transformation is largely complete and BioScrip is on track to deliver a breakout year in 2019, O'Neil tells investors in a research note. The analyst says he now has a line of sight back to $1.0B of annual revenue. Further, he believes BioScrip is capable of generating an adjusted EBITDA margin of 13% and expects the company to generate enough free cash flow to repay at least $200M of debt over this time horizon. Investors or a strategic acquirer will reward BioScrip with a 15.5 times enterprise value to adjusted EBITDA multiple "as this scenario plays out," O'Neil writes. As such, he believes BioScrip will be worth at least $10 and keeps a Buy rating on the name. The stock closed yesterday down 10c to $3.77.