Acadia Healthcare price target lowered to $64 from $94 at RBC Capital

RBC Capital analyst Ben Hendrix lowered the firm’s price target on Acadia Healthcare (ACHC) to $64 from $94 and keeps an Outperform rating on the shares. The stock has sold off nearly 50% since the company disclosed requests for information and subpoenas from separate federal and state agencies in late September, with difficult press headlines also driving “atypically soft volume”, the analyst tells investors in a research note. RBC adds that its reduced price target for Acadia reflects increased uncertainty following the recent negative headlines and subsequent federal inquiries.