Wells Fargo Initiates Coverage on Select Medical Corp (SEM) with a Market Perform; IRF Joint Ventures Could Be Catalyst
More News related to SEM
- JPMorgan Starts Select Medical (SEM) at Neutral
- RBC Capital Starts Select Medical (SEM) at Outperform
- Wells Fargo Initiates Coverage on Select Medical Corp (SEM) with a Market Perform; IRF Joint Ventures Could Be Catalyst
- Select Medical Holdings Corporation Announces Results for Third Quarter Ended September 30, 2009
- Bank of America Initiates Coverage on Select Medical Holdings (SEM) with a Buy
More News related to New Coverage
- Wells Fargo Initiates Coverage on American Medical Systems Holdings (AMMD) with an Outperform
- Wells Fargo Initiates Coverage on Varian Medical Systems (VAR) with a Market Perform
- Wells Fargo Initiates Coverage on SAVVIS, Inc. (SVVS) with a Market Perform
- KeyBanc Initiates Coverage on BWAY Holding (BWY) with a Hold; Significant Opportunity, But Near-Term Concerns
- Sidoti & Co Initiates Coverage on Cytec Industries (CYT) with a Neutral
Wells Fargo initiates coverage on Select Medical Corp (NYSE: SEM) with a Market Perform rating. Valuation range $9-11.
Select's diversified business mix in Long Term Acute Care Hospitals (LTAC) and Outpatient Rehabilitation gives the company a comparatively large and stable foundation combined with the growth potential in its Inpatient Rehabilitation (IRF) segment. At its current price the shares are within our valuation range; as joint ventures at the IRF segment accelerate we would anticipate that shares could offer additional upside."
"The company's most significant expansion plans revolve around IRF joint ventures with established acute care hospitals. Its IRF business could add $6-8 million in EBITDA for each completed joint venture, based on our estimates. The company has already announced one joint venture with Penn State Hershey Medical Center and is expected to complete construction of its new facility by midyear 2010. We believe the company is in the process of negotiating several additional deals which should begin contributing additional EBITDA in 2011."
To see more analyst ratings on SEM Click Here.
Related Categories
New CoverageStocks Mentioned
+0.05Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
