Jefferies Cuts Price Target on Kindred Healthcare (KND)

Jefferies lowered its price target on Hold-rated Kindred Healthcare (NYSE: KND) from $20 to $13, while raising estimates.

FY11 EPS goes from $1.70 to $1.82. FY12 goes from $1.67 to $1.73.

The firm comments, "Macroeconomic concerns along with renewed reimbursement fears will likely keep KND's stock range-bound for now, despite solid Q2 results and an attractive valuation. Until visibility improves, we are maintaining our Hold rating and are lowering our PT to $13 (from $20)."

For more ratings news on Kindred Healthcare click here and for the rating history of Kindred Healthcare click here.

Shares of Kindred Healthcare closed at $11.29 yesterday.

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