Acadia Healthcare price target lowered to $32 from $37 at Mizuho

Mizuho lowered the firm’s price target on Acadia Healthcare (ACHC) to $32 from $37 and keeps a Neutral rating on the shares following the Q1 report. The company continued to face headwinds from weak volumes at certain facilities as a result of negative local media coverage and the federal investigation into its billing practices, the analyst tells investors in a research note. The firm believes Acadia should be able to return to normalized volumes and cash flows, but says “this could be a multi-year journey.”