Analysts' next movesThe analysts will now weigh in with their price targets. Based on their questions and parting words, I am encouraged none will reduce their previous targets.
RBC was the last analyst to lower its price target and could be the first to raise its price target. However the last two RBC analysts have new jobs and so RBC coverage of Viemed might have a hiatus. They had the lowest price target so the average of growth targets would increase.
I feel analysts often take a wait and see approach to matters such as growth, however, VMD's track record through the pandemic was bumpy but they maintained profit each quarter. That counts for something when assessing the core revenue growth guidance.
The more difficult issue is their earnings target for the quarter and for the year. The explanations about the q1 seasonal trend in the bad debts was helpful. The explanation about their methods of attracting new patients was helpful. The explanation that both March and April were the best months since the pandemic started was helpful.
Casey and Todd sounded more serious and less defensive this call. That was encouraging.
My guess is that at least one analyst will up their Revenue, Earnings expectations and Price target.
I am also hoping that another analyst starts to track the company.