As previously reported, Benchmark downgraded Select Medical (SEM) to Hold from Buy with no price target. Following the special dividend of Concentra (CON) shares occurring today for shareholders of record as of November 18, the firm notes that the value of the dividend is about $16.70 per Select share based on Concentra’s current level. In the firm’s updated model, it now views Select Medical shares as “currently within a range of fair value,” the analyst tells investors.
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