Encompass Health price target raised to $150 from $140 at UBS

UBS analyst AJ Rice raised the firm’s price target on Encompass Health (EHC) to $150 from $140 and keeps a Buy rating on the shares. Encompass expects to drive continued strong discharge growth, and key growth drivers include continued execution of its de novo strategy, targeting new markets with low conversion rates of acute care discharges to IRFs and also working to improve conversion rates at existing hospitals, and converting beds from semi-private to private, the analyst tells investors in a research note.