UPDATE: Oppenheimer Upgrades Amedisys (AMED) to Outperform

(Updated - February 8, 2016 9:14 AM EST)

Oppenheimer upgraded Amedisys (NASDAQ: AMED) from Perform to Outperform with a price target of $40. Analyst Michael Wiederhorn thinks the company is on the right path.

"We are upgrading the shares of Amedisys from Perform to Outperform, as the recent weakness in share price, the improved outlook under the new management team, and the stability of industry reimbursement make the stock more attractive, in our view," said Wiederhorn.

"Furthermore, the company's increased appetite for M&A, strong cash flow, focus on its cost structure and outperformance with the increasingly important Star Ratings should also position Amedisys for improved success in the future. Lastly, the company continues to see strengthening on its Medicare FFS growth, which remains a core driver of the business. As a result, we are upgrading Amedisys from Perform to Outperform and establishing a $40 price target," added the analsyt.

For an analyst ratings summary and ratings history on Amedisys click here. For more ratings news on Amedisys click here.

Shares of Amedisys closed at $31.85 yesterday.

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