U.S. Physical Therapy price target lowered to $108 from $122 at Barrington

Barrington lowered the firm’s price target on U.S. Physical Therapy to $108 from $122 and keeps an Outperform rating on the shares. The company’s Q2 report is a “mixed bag,” the analyst tells investors in a research note. The firm says U.S. Physical delivered a solid sales result and strong cash flow from operations but fell short in terms of adjusted earnings and EBITDA due to higher than expected costs related to employees and contract labor and the timing of acquisitions.