Chemed price target lowered to $697 from $712 at RBC Capital

RBC Capital lowered the firm’s price target on Chemed to $697 from $712 but keeps an Outperform rating on the shares. The company delivered “solid” Q1 results despite continued Roto-Rooter headwinds, the analyst tells investors in a research note. RBC adds that the VITAS segment census strength will continue, leading the firm to increase its ADC, or Average Daily Census, growth expectations slightly above the high-end of management’s guidance range.