Aveanna assumed with Neutral from Underweight at JPMorgan

JPMorgan upgraded Aveanna (AVAH) to Neutral from Underweight with a price target of $10, up from $6, after assuming coverage of the name. The firm views current outpatient environment to be most favorable for companies with lower reimbursement exposure to federal funding. Aveanna’s value proposition represents a “unique way” to gain exposure to the shift to home health, but if faces a challenging rate environment and broader reimbursement risk, the analyst tells investors in a research note.