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NEW YORK - Shares of health care services provider Kindred Healthcare Inc. rose Tuesday as two analysts raised their price targets on the stock, citing fewer reimbursement challenges and management's improved operational focus and outlook.
| KND | 30.85 |  0.13 |
Stifel Nicolaus analyst Robert R. Hawkins said that despite a run-up in share price since the beginning of May, interest in the company remains strong. Kindred's long-term acute care hospitals have been somewhat insulated from the patient volume declines hitting the general hospital sector as cash-strapped patients delay elective procedures.
He added that he expects second-quarter volumes in long-term hospitals to climb year-over-year.
Hawkins, who has a "Buy" rating on the stock, raised his price target to $33 from $30.
Although he has a "Market Perform" rating on shares, Friedman Billings Ramsey analyst James Kumpel raised his price target to $29 from $25.50, saying that after several years of reimbursement changes and restructuring, the company is poised for earnings growth.
He added that a reduction in employee turnover rates and a boost in sales and marketing activities designed to increase referrals should help the company.
In afternoon trading, Kindred shares rose 62 cents, or 2 percent, to $32.
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