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Jefferies Raises Target on U.S. Physical Therapy (USPH), Maintains Buy Rating

March 13, 2012 8:51 AM EDT Send to a Friend
Get Alerts USPH Hot Sheet
Price: $34.80 -0.51%

Rating Summary:
    2 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 38 | New: 6
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Jefferies trimmed estimates but raised its price target on Buy-rated U.S. Physical Therapy (NASDAQ: USPH) from $24 to $26.

The firm comments, "We were very encouraged by USPH's first positive organic volume growth quarter since 3Q08 and believe that the company's volume growth momentum, coupled with its favorable reimbursement outlook and likely upside from unannounced acquisitions, will drive good stock performance this year. Given its growth trajectory and current outpatient PT sector valuations, we continue to believe that USPH is grossly undervalued at 13x FY12 P/E."

FY12 EPS goes down from $1.54 to $1.51 and FY13 goes down from $1.70 to $1.68.

For an analyst ratings summary and ratings history on U.S. Physical Therapy click here. For more ratings news on U.S. Physical Therapy click here.

Shares of U.S. Physical Therapy closed at $19.81 yesterday.




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