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Cambian upgraded by Canaccord

05 December 2016 14:35

Canaccord Genuity has moved to an outright 'buy' recommendation on health services provider Cambian (LON:CMBN) - previously rated as 'speculative buy' - after the group announced the proposed disposal of its adult business along with a special dividend of £40 million.

The broker added: "Catalysts providing upside to our TP could include potentially accretive acquisitions, as the company has signalled its intention to gear the remaining company to 1.5x EBITDA."

Analysts have upped their price target to 150 pence a share from 118 pence.

At 2:35pm: (LON:CMBN) Cambian Group Plc share price was +8.5p at 139.25p

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