Markets & Finance

Deutsche Bank Ups Odyssey HealthCare to Buy

Deutsche Bank upgraded Odyssey HealthCare (ODSY) to buy from hold, explaining that the company is in the midst of a turnaround following tougher industry competition.

Analyst Darren Lehrich believes the company's operational strategy is fundamentally stronger, and its new senior management should be able to deliver on better year over year results. As such he believes recent volatility in the share price creates a solid entry point with modest downside risk. He has a $20 stock price target, 22 times his 2007 earnings per share (EPS) estimate, given factors such as the company's slower growth in recent years.

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