Select Medical initiated with an Outperform at Mizuho

Mizuho initiated coverage of Select Medical (SEM) with an Outperform rating and $25 price target The firm believes Select is an attractive long-term investment opportunity given the company’s leading position in the post-acute continuum of care, attractive growth profile, improved leverage profile and attractive valuation. Earnings visibility is solid for Select Medical given the company’s “continued diversification and acceleration into fast-growing” inpatient rehabilitation, coupled with margin expansion potential in outpatient rehabilitation, the analyst tells investors in a research note.