Chemed price target raised to $674 from $667 at RBC Capital

RBC Capital analyst Ben Hendrix raised the firm’s price target on Chemed (CHE) to $674 from $667 and keeps an Outperform rating on the shares after its Q1 earnings beat. The firm remains positive on the stock following a “solid” Q1 report and given an improved outlook for Roto-Rooter, the analyst tells investors in a research note. Concerns over potential Medicare cap limitations are overblown with the company proactively managing with shorter-stay hospital admissions in select markets, RBC adds.