Ensign Group price target raised to $165 from $155 at Oppenheimer

Oppenheimer analyst Michael Wiederhorn raised the firm’s price target on Ensign Group to $165 from $155 and keeps an Outperform rating on the shares after hosting meetings with the management team. The firm believes the company is well positioned going forward. Ensign boasts a strong M&A pipeline, with a healthy bullpen of CEOs in waiting, Oppenheimer adds. Operationally, management is positive on the labor trends, with inflation back toward normal levels in the low single digits. Meanwhile, reimbursement trends remain largely stable and in line with long-term trends.