On Wednesday, BofA Securities adjusted its price target for AMN Healthcare Services Inc (NYSE:AMN)shares, a prominent healthcare staffing company, increasing it to $65.00 from the previous $61.00. The firm has kept its Neutral rating on the stock.
The adjustment follows a meeting with AMN Healthcare's top executives, including CEO Cary Grace and CFO Jeff Knudson. During the meeting, the leadership team conveyed an optimistic stance about the company's future.
They highlighted that while they anticipate a return to normalcy in the near term, the company is poised for mid-single-digit plus (MSD+) growth and potential margin expansion over a longer period.
BofA Securities cited improved visibility into the near-term demand for healthcare staffing as a key reason for the price target hike. The new target is based on a 10.5 times multiple of the company's estimated 2025 EBITDA, which is an increase from the prior multiple of 10.1 times.
The analyst's remarks underscored AMN Healthcare's strong positioning in the market despite the current challenges it faces. While the near-term normalization may present some pressure, the firm's outlook remains positive, suggesting a steady path ahead for the company.
The report reflects the analyst's confidence in AMN Healthcare's strategic direction and its ability to navigate through the present industry dynamics.
With the healthcare staffing sector being critical to the functioning of the healthcare system, AMN's role and performance are closely watched by investors and industry observers alike.
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