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Fly News Breaks for October 31, 2017
CHE
Oct 31, 2017 | 09:16 EDT
RBC Capital analyst Frank Morgan raised his price target on Chemed to $232 following Q3 results that topped management expectations despite the hurricane related admission disruptions. Morgan says VITAS margin improvement was the result of an easy acuity comp, and the storm activity impact was immaterial because the admissions decline was mainly among the lower-margin short-stay patients. The analyst is also positive on the results and the management outlook for the company's Roto-Rooter segment, keeping his Sector Perform rating on Chemed.
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