Jefferies upgraded ATI Physical Therapy Inc
stock to Buy from Hold with a price target of $5, up from $3.50.
- The increased price target represents about 65% upside to the January 13 closing price of $3.04, but still a roughly 30% discount to ATI's closest peer.
- The analyst Stephanie Wissink is "leaning heavily" into the firm's proprietary set of alt data to validate recent checks that suggest improved traffic, visits, and volumes and the view that "the worst is past" for ATI.
- ATI is a rehabilitation provider. The company specializes in research-based physical therapy, workers' compensation rehab, employer worksite solutions, sports medicine, home health, and various specialty therapies.
- With approximately 900 locations nationwide, the company has handled more than 2.5 million unique patient cases.
- The analyst's same-store foot traffic tracker suggests ongoing monthly recovery gains, who contends that a traffic recovery is a signal that unit volumes are returning to a pre-pandemic pattern.
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