BMO Capital analyst Matt Borsch lowered his price target on Universal Health to $138 and kept his Market Perform rating after its Q1 earnings miss, saying the results now imply reduced probability for the company to be able to achieve the high end of its FY19 EBITDA target range. The analyst notes that while wage pressures have continued in the quarter, Q1 underperformance was also driven by "lower-acuity volume mix on the acute-care side of the business that weakened the impact from strong volumes."
Barclays analyst Andrew Mok raised the firm's price target on Universal Health to $189 from $181 and keeps an Equal Weight rating on the shares post the Q1 report. The company posted broad pricing strength and strong acute inpatient volumes, which drove a big EBITDA beat, the analyst tells investors in a research note.
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