Addus HomeCare price target raised to $140 from $130 at Oppenheimer

Oppenheimer raised the firm’s price target on Addus HomeCare to $140 from $130 and keeps an Outperform rating on the shares. The firm notes Addus produced strong Q2 results fueled by improving organic growth trends across all its businesses. Looking forward, the company expects a margin dip in Q3, before ramping into Q4. For 2024, Addus issued a solid margin target that implies stronger rest-of-year estimates, while the accretive Gentiva acquisition should act as an incremental catalyst in 2025 and beyond, Oppenheimer adds.