LHC Group's price target reduced by two research firms
LHC Group, Inc. (Nasdaq: LHCG) shares are down after the health-care services company’s price target was reduced to $21 from $27 by equity research firm Avondale Partners. Avondale maintained its “market outperform” rating on the stock.
“After a 20% sell-off, we feel that the company’s valuation in relation to their guidance remains attractive and we believe that the guidance could be conservative,” Derrick Dagnan, who covers LHC Group for Avondale Partners, said. “Rather than toss the baby out with the bath water, we will maintain our rating.”
Investment bank Deutsche Bank Securities maintained its “hold” rating on LHC but also reduced its target price to $21.
In afternoon trading, LHCG shares are down 2.25%, or $0.39, at $16.91. Over the last 52 weeks, shares have ranged from $15.04 to $33.14.
