Pacs Group resumed with an Overweight at JPMorgan

JPMorgan analyst Lisa Gill resumed coverage of Pacs Group (PACS) with an Overweight rating and $40 price target following a period of restriction. The firm believes Pacs has an attractive business model focused on acquiring underperforming skilled nursing facilities and driving improvement in clinical, operational, and financial performance. Acquisitions position the company to execute against “lofty growth expectations, with potential for upside,” the analyst tells investors in a research note.