Chemed price target raised to $712 from $604 at RBC Capital

RBC Capital analyst Ben Hendrix raised the firm’s price target on Chemed to $712 from $604 and keeps an Outperform rating on the shares. The company reported a “solid” Q4 with earnings beating expectations on strength in VITAS with census growing 11.0%, the analyst tells investors in a research note. Roto-Rooter’s commercial revenue decline in Q4 reflects the company walking away from larger commercial customers demanding price concessions, though Chemed management expects modest demand recovery for Roto-Rooter through the latter three quarters of the year, the firm added.