SunTrust analyst David MacDonald raised his price target on Fresenius Medical to $48 and kept his Buy rating after its Q4 results yesterday, saying the quarter was "marked by solid organic trends, ongoing efficiency gains and strong cash flow." The analyst anticipates the company's 2019 to be a year of investment but sees the incremental spending driving more optimization and positioning Fresenius Medical for "attractive growth opportunities". MacDonald adds that he is positive on the company's pending acquisition of NxStage Medical (NXTM) given the market shift "towards the home".