U.S. Physical Therapy initiated with an Outperform at JMP Securities

JMP Securities initiated coverage of U.S. Physical Therapy (USPH) with an Outperform rating and $113 price target U.S. Physical operates one of the country’s largest outpatient physical therapy providers, with more than 750 owned or managed clinics across 43 states, the analyst tells investors in a research note. The firm is “constructive” on the company’s “differentiated, partnership-driven outpatient platform,” which it believes can combine with the company’s rate strategy, acquisition-engine, and industrial injury prevention business to extend its double-digit sales growth rate.