The Aveo Group (ASX: AOG) share price has rebounded strongly today following a heavy decline earlier this week.
In afternoon trade the embattled retirement living company's shares are up 4.5% to $2.86.
What happened?
Following a sharp fall in its share price earlier this week due to a joint investigation into its practices by the ABC's Four Corners show and the Fairfax Media, one leading broker has released a research note giving its shares an accumulate rating.
According to Ord Minnett, the sell-off of its shares was an overreaction.
Although it believes the brand may have taken a hit, the broker still believes there is the potential for significant upside for it shares.
Its analysts have retained their price target of $3.70, approximately 29% higher than the current share price.
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