Pacs Group initiated with a Buy at UBS

UBS initiated coverage of Pacs Group with a Buy rating and $50 price target The analyst believes Pacs will benefit from industry tailwinds including an aging population, growing chronic conditions among patients, and favorable reimbursement rates. The company’s growth will also be fueled by acquisitions of underperforming facilities, which it has historically been able to turn around through improved occupancy rates, quality, and improved skilled mix, the analyst tells investors in a research note.