Select Medical price target raised to $20 from $16 at RBC Capital

RBC Capital raised the firm’s price target on Select Medical (SEM) to $20 from $16 and keeps an Outperform rating on the shares. The firm notes that the dislocation seen in the stock marks an attractive entry point as regulatory headwinds lift, the analyst tells investors in a research note. RBC’s higher price target reflects easing regulatory headwinds and a more appropriate LTAC multiple assumption going forward, the firm added.