RBC Capital analyst Ben Hendrix lowered the firm’s price target on Acadia Healthcare (ACHC) to $64 from $94 and keeps an Outperform rating on the shares. The stock has sold off nearly 50% since the company disclosed requests for information and subpoenas from separate federal and state agencies in late September, with difficult press headlines also driving “atypically soft volume”, the analyst tells investors in a research note. RBC adds that its reduced price target for Acadia reflects increased uncertainty following the recent negative headlines and subsequent federal inquiries.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ACHC:
- Acadia Healthcare price target lowered to $70 from $91 at TD Cowen
- Acadia Healthcare price target lowered to $45 from $75 at Deutsche Bank
- Acadia Healthcare Reports Strong Q3 2024 Results
- Closing Bell Movers: Microsoft, Meta both down about 3% despite earnings beats
- Acadia Healthcare cuts FY24 EPS view to $3.35-$3.45 from $3.45-$3.65
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
