Oppenheimer Remains Bullish On Chemed Following Meetings With Management; Raises PT To $115

In a research report issued today, Oppenheimer analyst Michael Wiederhorn maintained an Outperform rating on Chemed (NYSE:CHE) and raised his price target to $115 (from $110), following meetings with Chemed’s executive management team.

Wiederhorn noted, “believe Vitas is well-positioned for a rebound in 2H:14 and beyond, as the admissions headwinds subside. Meanwhile, Roto-Rooter should benefit from growth from water restoration and franchisee acquisitions. Furthermore, we continue to view the company’s underlevered balance sheet as a potentially valuable benefit to owning the stock, with ~$1/share upside potential from repurchasing shares.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Michael Wiederhorn has a total average return of 20.5% and a 88.9% success rate. Wiederhorn has a 21.3% average return when recommending CHE, and is ranked #94 out of 3295 analysts.

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