Loop Capital upgrades Acadia Healthcare to Buy on ‘encouraging’ long-term plan

Loop Capital analyst Joseph France upgraded Acadia Healthcare to Buy from Hold with a price target of $95, up from $90. While he is not raisins his FY22 projections in spite of the company’s likely "strong" Q4, he sees Acadia’s long-term plan presented at its first Investor Day as "encouraging", the analyst tells investors in a research note. If the latest trends continue, Acadia’s accelerated development plans for 2024-28 could support long-term annual earnings of 10%-12% or more, France adds.