Citizens Stays Bullish on Addus HomeCare (ADUS) as Texas Rate Hikes Support Growth

Citizens analyst Constantine Davides reiterated a Market Outperform rating and $150.00 price target on Addus HomeCare (NASDAQ: ADUS).

The analyst commented, "We remain constructive on ADUS, given its multi-state scaled footprint, multiple levels of service, and the essential nature of Personal Care services for the demographic that ADUS serves. On September 1, personal care (PC) rates in Texas (ADUS's second-largest PC state) increased 9.9%.; this was followed by a 2.6% hospice rate increase, effective October 1. Coupled with the company's solid balance sheet and strong cash flows, we continue to have conviction in ADUS's potential to extend its 10% top-line growth rate objective over the next several years."

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

Shares of Addus HomeCare closed at $118.31 yesterday.

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