Jefferies Upgrades Chemed to Buy, Lifts Price Target to $620

Jefferies upgraded Chemed to buy from hold and raised its price target to $620 from $520 after the company’s third-quarter results beat analyst expectations. Jefferies analyst Brian Tanquilut said operating issues had eased, improving the outlook for more predictable earnings growth. Chemed shares had gained about 16% over the past year, outperforming the broader market but trailing the S&P 500 health care sector, which rose 23% over the same period. Shares were up more than 2% in premarket trading Wednesday.

Source: TokenPost