Jefferies And Co. Reiterates Rating, PT On RDNT

Jefferies and Co. is reiterating its Buy rating and its price target of $5 on RadNet Inc. RDNT, based upon recommendations from MedPAC. In the report, Jefferies writes, “MedPAC's draft recommendations, which seek to moderate spending on advanced imaging modalities, in our view, will end up being positive for RDNT, if adopted by Congress, as they address the long-standing issue of physician self-referral. Longer-term, we believe that RDNT's market-leading position will enable it to continue capturing market share while expanding operating margins.” RDNT closed yesterday at $3.48.