UPDATE: Jefferies Cuts PT to $19 on LHC Group; Cost Management Continuity Concerns

Jefferies lowers its price target from $20 to $19 on Hold-rated LHC Group LHCG reflecting concerns that the company's expense management, currently strong, may not be sustainable. Jefferies notes, "LHCG's terrific job of tightening costs during Q1 yielded a robust beat vs. consensus. However, based on management's reaffirmed guidance, we are concerned that this tightening may only be "window dressing" as part of the company's review of its strategic alternatives. Reiterate Hold/$19PT (from $20)." LHCG closed at $17.13 on Wednesday.