Jefferies Raises Price Target on Hanger Orthopedic (HGR) to $24.50

Jefferies raised its price target on Buy-rated Hanger Orthopedic Group Inc. (NYSE: HGR) from $23 to $24.50.

The firm comments, "We believe that current FY12 revenue and EPS estimates for HGR remain conservative given our expectation for sustained organic revenue growth (benefiting from a Medicare rate bump) and margin expansion. Despite the recent run-up in the stock, expectations seem to remain low going into Wednesday's earnings release, so we expect the stock to react positively to in-line/slightly above-consensus FY12 guidance. Reiterate Buy/PT to $24.50."

For an analyst ratings summary and ratings history on Hanger Orthopedic Group Inc. click here. For more ratings news on Hanger Orthopedic Group Inc. click here.

Shares of Hanger Orthopedic Group Inc. closed at $21.19 yesterday, with a 52 week range of $14.57-$28.47.

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