BUZZ-Pennant Group jumps after Truist upgrades on growth outlook

Reuters12-03

BUZZ-Pennant Group jumps after Truist upgrades on growth outlook

** Shares of home health care provider Pennant Group PNTG.O rise 3.22% in early trading session

** Truist Securities upgrades PNTG to "buy" from "hold", citing solid operating trends, strong sector demand and reduced reimbursement risk after a favorable 2026 home health rule

** The 2026 Medicare payment rates and policies from U.S. regulators for home health providers is less restrictive than expected, easing concerns over Medicare reimbursement for home health providers, brokerage says

** Brokerage also raised PT to $34 from $28, a 19.7% upside to stock's last close

** Truist analysts said the integration of Pennant’s $146.5 million acquisition of 54 Amedisys locations is progressing smoothly and margins are expected to normalize post-investment

** 6 of 6 brokerages rate the stock "strong buy" or "buy"; median PT is $35 — data compiled by LSEG

** Including current session, PNTG up 10.54% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))

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