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AMSG

Bought by EVHC

$68.12

0.74 (1.10%)

, LM

Legg Mason

$32.16

0.26 (0.82%)

14:55
12/01/16
12/01
14:55
12/01/16
14:55

AmSurg to replace Legg Mason in S&P 500 as of 12/1 close

AmSurg (AMSG) is acquiring Envision Healthcare Holdings (EVHC) in a transaction expected to be completed on December 1 pending final conditions. Post merger, AmSurg will change its name to Envision Healthcare Corp. and its Global Industry Classification sub industry group to Health Care Services. Legg Mason (LM) is ranked near the bottom of the S&P 500 and has a market capitalization more representative of the mid-cap market space.

AMSG

Bought by EVHC

$68.12

0.74 (1.10%)

LM

Legg Mason

$32.16

0.26 (0.82%)

EVHC

Envision Healthcare

$22.83

0.11 (0.48%)

  • 06

    Dec

AMSG Bought by EVHC
$68.12

0.74 (1.10%)

11/09/16
MZHO
11/09/16
DOWNGRADE
MZHO
Neutral
AmSurg downgraded to Neutral from Buy at Mizuho
11/09/16
MZHO
11/09/16
DOWNGRADE
Target $71
MZHO
Neutral
AmSurg downgraded to Neutral on Trump win at Mizuho
As previously reported, Mizuho analyst Ann Hynes downgraded AmSurg to Neutral from Buy citing Donald Trump's election victory, given his pledge to repeal and replace Obamacare. While it remains to be see if ACA can truly be clawed back, the fear that it will be will weigh on valuations for the time being, said Hynes, who cut her price target on AmSurg shares to $71 from $95.
11/10/16
WELS
11/10/16
NO CHANGE
WELS
Decline of healthcare facility stocks 'mostly overdone,' says Wells Fargo
Wells Fargo says that the decline of many healthcare facility stocks in the wake of Trump's victory "is mostly overdone." The firm says that in most cases the declines reflect the repeal of the ACA without any replacement. Howqever, the firm expects the Republicans to pass a new bill that would provide "some coverage" to those who are currently covered under Obamacare. The firm adds that post acute facilities should see "minimal impact" from a repeal of the ACA. It keeps Outperform ratings on Universal Health (UHS), AmSurg (AMSG), and Envision Healthcare (EVHC).
12/01/16
BARD
12/01/16
NO CHANGE
Target $101
BARD
Outperform
AmSurg price target raised to $101 from $87 at Baird
Baird analyst Whit Mayo raised his price target on AmSurg to $101 from $87 and called it a top pick heading into 2017. The analyst cited its accelerating growth, relationship selling opportunities, the belief the company is ready to fund a record number of acquisitions, its low leverage versus peers, and its current dislocated valuation. Mayo reiterated his Outperform rating on AmSurg shares.
LM Legg Mason
$32.16

0.26 (0.82%)

03/16/16
03/16/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Legg Mason (LM) upgraded to Outperform at Credit Suisse by analyst Craig Siegenthaler, who cited a "severely" discounted valuation. He said Legg Mason's has strong free cash flow generation, which it can divert from buybacks to net reduction if market conditions or flows weaken. 2. Mead Johnson (MJN) upgraded to Outperform at Credit Suisse with analyst Robert Moskow saying it makes sense for both Nestle (NSRGY) and Danone (DANOY) to view Mead Johnson as an attractive target at this point in time and believes management and the board would take a bid seriously. 3. Monster Beverage (MNST) upgraded to Conviction Buy at Goldman by analyst Judy Hong, who said the 11% year-to-date pullback in shares has created an attractive entry point. 4. Sherwin-Williams (SHW) upgraded to Buy at Longbow with analyst Dmitry Silversteyn saying the North American paint market appears to be growing at a 3%-5% rate in Q1, suggesting benefits from better weather. 5. Kraft Heinz (KHC) upgraded to Conviction Buy at Goldman by analyst Judy Hong, who said margin upside potential from the company's "aggressive" cost-cutting is being underappreciated by investors. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/13/16
GABE
10/13/16
NO CHANGE
GABE
Buy
Legg Mason makes sense as target for Japanese investment, says Gabelli
Gabelli analyst Macrae Sykes noted that Legg Mason was mentioned yesterday in a report as a potential target for a strategic investment for a Japanese firm, which he believes would make sense as Japanese firms look to non-Japanese investments to improve returns. Legg Mason already has a 10% Asian investor in Shanda Group, notes Sykes, who tweaked his model slightly after Legg Mason reported AUM of $733B for the month of September. The analyst has a Buy rating on Legg Mason shares.
09/09/16
SBSH
09/09/16
NO CHANGE
Target $50
SBSH
Buy
Legg Mason EBITDA guidance points to Q3 upside, says Citi
Citi analyst William Katz believes the Q3 EBITDA guidance provided yesterday by Legg Mason points to earnings upside in the quarter. The analyst's math estimates the outlook translates to a 58c GAAP EPS mid-point equivalent, or 3c above consensus. The stock's non-reaction to the outlook presents a buying opportunity, Katz tells investors in a research note. He maintains a Buy rating on Legg Mason with a $50 price target.
07/18/16
WELS
07/18/16
NO CHANGE
WELS
Legg Mason shares could jump nearly 50%, says Wells Fargo
Wells Fargo believes that Legg Mason's stock could rally nearly 50%, driven largely by cost savings and share buybacks. The firm estimates that the company's EPS could jump about 50% in fiscal 2018. Wells calls Legg Mason "very inexpensive," and keeps an Outperform rating on the shares.
EVHC Envision Healthcare
$22.83

0.11 (0.48%)

09/26/16
SBSH
09/26/16
UPGRADE
Target $26
SBSH
Buy
Envision Healthcare upgraded to Buy from Neutral at Citi
Citi analyst Ralph Giacobbe upgraded Envision Healthcare (EVHC) to Buy saying the pending merger with AmSurg (AMSG) should offer a strong growth profile over the foreseeable future. The analyst lowered his price target for the shares to $26 from $7.Giacobbe this morning also initiated shares of AmSurg with a Buy rating.
10/05/16
SPHN
10/05/16
NO CHANGE
Target $50
SPHN
Overweight
TeamHealth possible sale helpful for the sector, says Stephens
Stephens analyst Dana Hambly says Dow Jones' report that TeamHealth (TMH) is in talks with private equity regarding a possible sale should not come as a complete surprise in the wake of the AmSurg (AMSG)/Envision Healthcare (EVHC) merger and depressed valuation. The analyst says the company may be worth $42-$57 per share, but notes that the upper end of the range suggests an uncomfortably high debt level which could be the deal's biggest barrier if the Board is not willing to "leave too much on the table." Nonetheless, Hambly views the news as helpful for the sector which may finally get a valuation floor. He reiterates an Overweight rating and $50 price target on TeamHealth's shares.
11/02/16
WELS
11/02/16
UPGRADE
WELS
Outperform
Envision Healthcare upgraded to Outperform from Market Perform at Wells Fargo

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