Option Care Health Inc (OPCH) shares soared 5.01% on Tuesday's intraday trading session, outperforming the broader market. The rally came as analysts raised their price targets and the company issued preliminary Q4 and full-year 2024 results showing robust revenue growth expectations.
Barrington Research raised its price target on OPCH to $33 from $32, maintaining an Outperform rating on the stock. The analysts cited the company's strong preliminary financial results as the catalyst for the raised outlook.
Option Care Health expects to report net revenues between $1.34 billion to $1.35 billion for Q4 2024, representing an impressive 19.2% to 20.1% year-over-year growth. For the full year 2024, the company projects net revenues to increase between $5.2 billion to $5.4 billion compared to 2023. These robust top-line growth estimates, driven by the company's strategic initiatives and favorable market conditions, have boosted investor confidence in the stock.
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