TD Cowen starts Addus HomeCare at Outperform on successful track record

As previously reported, TD Cowen initiated coverage of Addus HomeCare with an Outperform rating and $105 price target. Addus provides services in the three segments of personal care, home health and hospice and management has a successful track record of growing revenues and EBITDA while generating increasing positive free cash flow, the analyst says. This allows Addus to be acquisitive while maintaining low net leverage and the company expects to continue to execute on its stated strategy of overlaying all its segments in the same markets, the analyst added.