Hanger Inc. (HGR) Upgraded by Zacks to NEUTRAL

Zacks Investment Research upgraded shares of Hanger Inc. (HGR) from UNDERPERFORM to NEUTRAL on March 11, 2015, with a target price of $26.00.

Hanger is set to restate sections of its previously-issued financial data. Owing to this, the company did not release third and fourth quarter results and refrained from filing related 10Q for the third quarter and 2014 10K. We believe that the uncertainty related to the completion time of the restatement process will remain a major overhang on the stock in the near term. Moreover, the company continues to face macroeconomic headwinds like reimbursement uncertainties, sequestration, and RAC audits that are likely to keep overall results under pressure over the next few quarters. Nevertheless, we note Hanger's dominant position in the orthotic and prosthetic (O&P) market expanding customer base and accretive acquisitions are major positives. We note that Linkia remains a key growth catalyst for the company.

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