Pacs Group committee finds no basis to question CEO, CFO integrity, says Truist

After Pacs Group (PACS) issued a press release providing an update on the investigation currently being conducted by the company’s independent Audit Committee, and indicated that the committee has made meaningful progress and is “nearing completion” of the investigation, Truist noted that the company said the committee to date has “found no basis to question the integrity of the Company’s Executive Vice Chairman, Chief Executive Officer, Chief Financial Officer or Chief Accounting Officer.” The analyst keeps a Buy rating and $32 price target on Pacs Group shares, which are up $1.67, or 16%, to $11.81 in morning trading.