AMN Healthcare price target raised to $24 from $22 at Citizens JMP

Citizens JMP raised the firm’s price target on AMN Healthcare (AMN) to $24 from $22 and keeps an Outperform rating on the shares. Management noted that travel nurse demand has steadily increased 50% from the mid-May lows, and remains slightly down year over year, while Allied demand is now flat y/y, the analyst tells investors in a research note. Although staffing gross margin has been under pressure, management believes this dynamic will stabilize as the industry returns to growth, with a rebound in the international nurse business serving as an additional margin tailwind, the firm says.