BofA downgraded U.S. Physical Therapy to Neutral from Buy with a price target of $90, down from $114. The firm likes the “solid” long-term growth profile, but worries about the recent spike in labor combined with a slow denovo ramp, the analyst tells investors. In addition, a slowing economy could impact demand and payor mix and keep the multiple compressed given U.S. Physical’s exposure to commercial payors, the analyst contends.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on USPH:
- U.S. Physical Therapy announces the aquisition of an eight-clinic practice
- US Physical Therapy CEO to Present at Midwest IDEAS Conference
- US Physical Therapy Q2 and H1 2024 Financial Overview
- U.S. Physical Therapy price target lowered to $108 from $122 at Barrington
- U.S. Physical Therapy cuts FY24 adjusted EBITDA view to $80M-$85M
