Encompass Health price target raised to $61 from $57 at Barclays

Barclays raised the firm’s price target on Encompass Health to $61 from $57 and keeps an Equal Weight rating on the shares. The Centers for Medicare and Medicaid Services fiscal 2024 Proposed Inpatient Rehabilitation Facility Prospective Payment System came in at 3.0% for Encompass Health and 3.7% for the industry, and encouragingly does not include the Transfer Payment Policy in the proposal, the analyst tells investors in a research note. The firm now sees "somewhat reduced IRF reimbursement risk" for Encompass Health.