Amedisys (AMED): Revenue Not OpEx Tells The Story - Jefferies
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Jefferies analyst, Brian Tanquilut, reiterated his Buy rating on shares of Amedisys (NASDAQ: AMED) but cut his price target to $50 from $59 after a pre-release of weak Q3 EPS.
While pressuring earnings growth and price targets, the misstep seems mostly attributable to disruptions related to the rollout of its new IT system. While the EPS miss is disappointing, reported revenues were actually above consensus, highlighting strength in hospice and personal care. Beyond Q3, the analyst believes the company remains positioned to see healthy organic volume growth and margin expansion once its HCHB rollout is completed at year-end, which sets the stock up for good EPS growth going forward.
Shares of Amedisys closed at $42.55 yesterday.
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