JPMorgan Chase & Co. increased its price target for PACS Group, Inc. to $58.00.
The new target represents an upward revision from the previous $47.00 valuation.
Analysts maintained an overweight rating on the stock in a research report issued Friday.
The bullish outlook follows PACS Group’s announcement to acquire 32 skilled nursing facilities in Florida.
The company is also finalizing a previously announced acquisition of facilities from Eduro Healthcare.