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Fly News Breaks for September 16, 2019
SEM
Sep 16, 2019 | 16:58 EDT
Deutsche Bank analyst Justin Bowers started Select Medical with a Buy rating and $101 price target as part of his broader research note into the Post-Acute sector in the Healthcare Facilities industry, saying the fundamentals of the public home health pure-plays are attractive despite payment reform beginning in 2020. The analyst is positive on the company having transformed into a "diversified post-acute rehab services provider" but contends that its stock remains misunderstood because of the "complexities" around its legacy long-term acute care hospital segment. Bowers further notes that the founders of Select Medical have "skin in the game", owning about 16% of the company's outstanding shares.
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