Acadia Healthcare (ACHC) PT Raised to $85 as Jefferies Sees Double Digit EBITDA Growth Ahead
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Jefferies analyst Brian Tanquilut raised the price target on Acadia Healthcare (NASDAQ: ACHC) to $85.00 (from $75.00) noting, the company's strong Q2 results and guidance increase are proof that demand for mental health services will remain elevated. When combined with management's commitment to expanding bed capacity, this should translate to multiyear organic EBITDA growth of at least 10%.
The analyst reiterated a Buy rating, stating "We continue to expect ACHC to deliver 10%+ organic EBITDA growth over the next several years as the company takes advantage of strong secular tailwinds (i.e., robust demand for mental health services) and mgmt bolsters overall company capacity by adding beds in existing facilities, builds de novo locations, and pursues joint ventures with leading hospital systems."
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