Carriage Services initiated with an Outperform at Raymond James

Raymond James initiated coverage of Carriage Services (CSV) with an Outperform rating and $60 price target The firm views Carriage as an turnaround story under the new the management team. The company has EBITDA growth tailwinds from the streamlining of its operations, efforts to grow its pre-need business, and the potential for acquisitions with a better balance sheet, the analyst tells investors in a research note. Raymond James sees room for the stock to close its valuation discount to Service Corporation (SCI).