Jefferies Upgrades Kindred Healthcare (KND) to Buy

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Jefferies upgraded Kindred Healthcare (NYSE: KND) from Hold to Buy with a price target of $13 (up from $11).

The firm comments, "We are upgrading KND to Buy (from Hold) and raising our PT to $13 (from $11) after CMS issued a better-than-expected FY13 proposed LTCH rule. We believe improved reimbursement visibility will allay investor anxieties and push this highly discounted stock higher."

FY12 EPS goes from $1.50 to $1.45.

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

Shares of Kindred Healthcare closed at $8.30 yesterday, with a 52 week range of $7.60-$28.99.

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