Adeptus Health (ADPT) PT Raised to $46 at Piper Jaffray on Solid Q4

Piper Jaffray analyst Kevin Ellich reiterated an Overweight rating and boosted his price target on Adeptus Health (NYSE: ADPT) to $46.00 (from $45.00) following solid Q4 results.

Ellich commented, "ADPT reported solid Q4 results despite a negative impact from lower volumes in the Dallas/Ft. Worth market due to Ebola in October and November. Volumes normalized in December and ADPT's development activity continues to charge ahead as the Arizona hospital JV received its CMS license at the end of January and ADPT announced plans to open a second hospital in the greater Dallas/Ft. Worth area in late 2015. We believe this second hospital will be a nice driver of SS growth as all of ADPT's freestanding ERs are within a 35-mile radius."

The firm raised FY 2015 from $0.44 to $0.48 and FY 2016 EPS from $0.92 to $1.03.

For an analyst ratings summary and ratings history on Adeptus Health click here. For more ratings news on Adeptus Health click here.

Shares of Adeptus Health closed at $41.13 yesterday.

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