Chemed initiated with a Hold at Jefferies

Jefferies initiated coverage of Chemed (CHE) with a Hold rating and $500 price target The firm likes the hospice space and Chemed’s track record of execution and capital allocation, but says the recent issues related to the Medicare cap, particularly in Florida, will likely carry over into 2026. These will limit Chemed’s ability to achieve the consensus 2026 EBITDA estimates, the analyst tells investors in a research note.