Stifel Resumes Healthcare Services Group (HCSG) at Hold
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Stifel analyst Tao Qiu resumes coverage on Healthcare Services Group (NASDAQ: HCSG) with a Hold rating and a price target of $31.00.
The analyst commented, "We are resuming coverage of Healthcare Services Group (HCSG) with a Hold rating and a $31 price target. As a leading outsourced services provider for the long-term care industry, HCSG has consistently grown earnings and dividends since becoming public in 1983. Its business offers a critical solution to nursing home operators looking to lower costs and has thrived in periods of distress. Armed with a debt free balance sheet and strong cash flow generation, management has historically managed the balancing act of growth and quality relatively well, and we don’t see that changing. We think the market recognizes the subdued growth profile near term and view the current valuation as fair. A consistently growing dividend yielding 2.6% today should appeal to income and growth investors. We would be more constructive if there was better visibility on the path to accelerate growth."
Shares of Healthcare Services Group closed at $32.35 yesterday.
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