RTTNews | Jan 14, 2022 11:56AM EST

11:55 Friday, January 14, 2022 (RTTNews.com) - The Illinois-based physical therapy company, ATI Physical Therapy, Inc. (ATIP)-, saw its stock soar 24% higher on the market after a Jefferies analyst changed the rating of the stock to "buy" from "hold".

The analyst has also increased the target price of the stock to $5 from $3.50, set previously. "A traffic recovery is a signal that unit volumes are returning to a pre-pandemic pattern," analysts Chris Neamonitis wrote.

The stock is currently trading at $3.75, up $0.71 or 23.51% since the previous close at $3.04. The stock opened at $3.26 in the morning. In the 52-week period, the stock has ranged between $2.66 and $13.05 per share.

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