Macquarie initiated coverage of Pacs Group with an Outperform rating and $35 price target. Pacs is a fast-growing operator in the highly fragmented skilled nursing industry, benefiting from demographic tailwinds and checked supply, the analyst tells investors in a research note. The firm expects the company benefit from demographics-led demand growth and a lack of supply for post-acute and long-term care services, which should help accelerate its sales growth above the 2%-4% historical range.
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Read More on PACS:
- PACS Group Inc Enhances Board with New Director and Committee Roles
- Pacs Group sees FY24 revenue $3.65B-$3.75B, consensus $3.68B
- Pacs Group price target raised to $32 from $30 at RBC Capital
- Pacs Group price target raised to $32 from $31 at Oppenheimer
- Pacs Group reports Q1 EPS 38c vs. 29c last year