** Brokerage Benchmark upgrades hospital operator Select Medical SEM.N to "buy" from "hold"
** Brokerage sets PT of $23 citing strong Q4 performance and conservative forecast due to upfront costs of accelerated inpatient rehab beds
** Benchmark says SEM's focus on expanding its inpatient rehab unit, which has the highest margins, is expected to drive long-term profitability
** "We think the long term acute care hospital (LTACH) could see a bit more improvement this year in terms of revenue with negotiated commercial contracts and increasing patient volume" - Benchmark
** Median PT among 5 brokerages covering stock is $23 as per data compiled by LSEG
** Stock down 5.9% YTD
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com;))
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