Acadia Healthcare (ACHC +4.5%) has received Strong Buy rating from Raymond James, up from Outperform with a price target of $48, up from $40.
The analyst believes after the divestiture of its U.K. portfolio, investors will be able to re-focus on the underlying value of the U.S. business, led by the "sleeper" CTC business, which the analyst estimate accounts for ~20% of US EBITDA at a 13x estimated base case EBITDA multiple.
Recently, Acadia notified potential buyers, that it will relaunch a formal sale process.
https://seekingalpha.com/news/3618567-raymond-james-sees-62-upside-for-acadia-healthcare
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