Chemed price target lowered to $576 from $610 at RBC Capital

RBC Capital analyst Ben Hendrix lowered the firm’s price target on Chemed to $576 from $610 but keeps an Outperform rating on the shares after its Q2 earnings miss. The company’s slowdown in Roto-Rooter revenue growth will likely weigh on the stock in the near term given uncertainty around the timing of the return of demand, though most of Roto-Rooter’s jobs remain non-discretionary, which should “mitigate downside risk”, the analyst tells investors in a research note.