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Fly News Breaks for February 21, 2020
Feb 21, 2020 | 07:15 EDT
Credit Suisse analyst A.J. Rice maintained an Outperform rating on Amedisys (AMED) and raised his price target on shares to $214 from $206 after the company reported Q4 results that beat on the bottom-line but were slightly weaker than expected on the top-line. The analyst said the company's key issue was sales force, which had dipped to 1,170 in Q3 and only gained a net 7 in Q4, below the company's target sales force of 1,200. Higher sales force should "drive stronger referral patterns and future revenue growth, but it can take 6-9 months for a new sales person to reach full productivity." The analyst sees sequential improvement from adding to its sales force in Q1.
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