ADUS - Addus HomeCare initiated at BofA with a buy citing growth potential

BofA Securities has initiated personal care services provider Addus HomeCare Corp. (NASDAQ:ADUS) with a buy rating citing the company attractive growth profile. The firm has a $110 price target (~27% upside based on Tuesday's close). "ADUS' 5% organic growth could be 10%+ when factoring in acquisitions, which could drive EBITDA growth in the low to mid teens," wrote analyst Joanna Gajuk. She added that the company can benefit in the short term as more states improve Medicaid rates, and could have long-term upside with the expansion of Medicare Advantage personal care benefits. Seeking Alpha's Quant Rating views Addus HomeCare (ADUS) as a hold.

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Addus HomeCare initiated at BofA with a buy citing growth potential