Chemed price target lowered to $400 from $475 at Jefferies

Jefferies lowered the firm’s price target on Chemed (CHE) to $400 from $475 and keeps a Hold rating on the shares. Q4 results were “disappointing” and revenue guidance ranges for both segments were adjusted down from previous commentary, notes the analyst, who sees Roto’s margin outlook being reduced underscoring continued headwinds in that business. The earnings miss makes Chemed a “show me” story in the near-term, the analyst added.