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Fly News Breaks for September 7, 2016
HCSG
Sep 7, 2016 | 10:29 EDT
CL King analyst Michael Gallo attributes today's 9% pullback in shares of Healthcare Services to worries about the impact that new Department of Labor overtime rules will have on direct costs, but he believes the concerns are misguided. The changes to the overtime threshold are not new and increases to its labor costs are automatically passed through under Healthcare Services' contracts, Gallo tells investors. The analyst reiterates the firm's Strong Buy rating on the stock and recommends using today's weakness as a buying opportunity.
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