Extendicare Shares Rise as TD Upgrades to Buy on Home Health Care Growth Acceleration

Dow Jones04-06

By Adriano Marchese

Extendicare shares rose Monday after TD Cowen upgraded the stock, citing the company's growing home healthcare platform as a key driver of future performance

Shares rose 3.8% to 28.80 Canadian dollars ($20.65).

The Canadian senior-care company's Home Health Care operations have been behind the company's strong stock growth, said TD Cowen analyst Jonathan Kelcher in a report. The stock is up 35% since the start of the year, and more than double over the last 52 weeks.

"This reflects a transformational improvement in the HHC business, two straight years of largely beating street estimates and a growing track record of accretive acquisitions," the analyst said.

TD Cowen upgraded the stock to a buy rating from hold, and the target price to C$32 from a prior C$19.

The analyst said he believes consensus estimates may still be too low, especially if the company can find additional tuck-in acquisitions which could add upside to the stock. The segment has grown considerably through the C$570-million acquisition of CBI Home Health, which Kelcher said created the largest home healthcare platform in Canada. It also helps diversify the company's geographic reach and increases its presence in Alberta, which was only a small percentage of the company's segment volume in 2025, the analyst added.

"We see potential for mid-high single digit organic volume and revenue growth, as well as margin expansion," Kelcher said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 06, 2026 11:02 ET (15:02 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The stock is up 35% since the start of the year, and more than double over the last 52 weeks. \n\n\n  \"This reflects a transformational improvement in the HHC business, two straight years of largely beating street estimates and a growing track record of accretive acquisitions,\" the analyst said. \n\n\n  TD Cowen upgraded the stock to a buy rating from hold, and the target price to C$32 from a prior C$19. \n\n\n  The analyst said he believes consensus estimates may still be too low, especially if the company can find additional tuck-in acquisitions which could add upside to the stock. The segment has grown considerably through the C$570-million acquisition of CBI Home Health, which Kelcher said created the largest home healthcare platform in Canada. 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