Aveanna Healthcare Holdings Inc. (AVAH) stock surged 5.86% in pre-market trading on Monday, as investors reacted positively to a significant analyst upgrade.
The catalyst for this upward movement appears to be Raymond James' decision to upgrade Aveanna Healthcare from Market Perform to Outperform. Analyst John Ransom also set a new price target of $9.00 for the stock, signaling strong confidence in the company's potential.
This upgrade represents a substantial shift in Raymond James' outlook for Aveanna Healthcare. The new Outperform rating, coupled with the $9.00 price target, suggests considerable upside potential from the stock's previous closing price. It's worth noting that prior to this upgrade, the average rating for AVAH was "hold" with a mean price target of $6.69, according to analysts polled by FactSet.