Acumen Capital raised Viemed to 14 Canadian from 12 CanadianThis works out to US 10.97 from $9.36.
From the report:
" Conference Call Highlights. Growth expected to be driven by: (1) acquisitions, (2) hospital partnerships, (3) solutions providers (staffing and behavioural health), and (4) expansion of national payor contracts. Bad debt expense typically peaks in the first quarter and is expected to be in the historic range for the full year (5-6%). Additional details are on Page 2.
Recommendation. With the operating environment close to pre-pandemic levels, we believe VMD’s organic growth will return to near historic levels (core revenue growth forecast to be 20% in 2022). VMD’s valuation remains compelling at current levels, trading at 4.1x 2023 EV/EBITDA vs. the larger home medical equipment peers trading at 14.4x. We maintain a BUY Rating with a $14.00 Target Price (up from $12.00 due to our revised estimates."