Chemed price target raised to $604 from $576 at RBC Capital

RBC Capital raised the firm’s price target on Chemed to $604 from $576 and keeps an Outperform rating on the shares. The company’s Q3 results were well ahead of expectations driven by strong VITAS momentum and better than expected Roto-Rooter performance, the analyst tells investors in a research note, adding that the firm was also encouraged by VITAS’ performance and expects the “census to build into 2024” driven by strong hiring and retention trends.