Amedisys initiated with a Neutral at Cantor Fitzgerald

Cantor Fitzgerald analyst Sarah James initiated coverage of Amedisys with a Neutral rating and $87 price target. The analyst likes the long-term growth opportunity of home health and thinks skilled nursing facilities at-home care can take share from skilled nursing facilities. However, a challenging rate and labor environment is likely to dampen Amedisys’ margins in 2024 and slow acquisition activity, which was key to the company’s historical multiple and long-term growth, the analyst tells investors in a research note.