Encompass Health price target raised to $101 from $95 at Barclays

Barclays analyst Andrew Mok raised the firm’s price target on Encompass Health to $101 from $95 and keeps an Overweight rating on the shares. The analyst states that this everning, the CMS has released the proposed 2025 rate update for inpatient rehab facilities, which made no mention of the home health transfer payment policy. This is a largely unsubstantiated reimbursement concern that materialized around this time last year, and today’s release marks the second straight year absent any mention, which is a strong signal that CMS is likely not pursuing this policy and a “big win” for Encompass Health, the firm tells investors in a research note.