AdaptHealth, the Healthcare sector company, was revisited by a Wall Street analyst on August 13. Analyst Whit Mayo from Leerink Partners reiterated a Buy rating on the stock and has a $13.00 price target.
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Whit Mayo has given his Buy rating due to a combination of factors that highlight AdaptHealth’s positive trajectory. The company’s second-quarter results were promising, with diabetes management showing signs of recovery and sleep-related issues being addressed effectively. The announcement of a new national health system contract further strengthens AdaptHealth’s position, offering a significant revenue boost and expanding their capitated business.
Additionally, AdaptHealth’s cash flow remains robust, with expectations of reduced net leverage by year-end. Despite a slight reduction in EBITDA forecasts for the coming years, the company’s valuation remains attractive. The ongoing operational improvements and strategic initiatives across various business lines, such as respiratory and sleep, contribute to a positive outlook, supporting the Buy rating.
In another report released on August 13, Canaccord Genuity also maintained a Buy rating on the stock with a $14.00 price target.