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HCA

HCA Healthcare

$128.74

0.57 (0.44%)

, UHS

Universal Health

$124.44

-0.01 (-0.01%)

08:59
08/14/18
08/14
08:59
08/14/18
08:59

Barclays starts Hospital sector with Neutral outlook, top pick HCA

Barclays analyst Steve Valiquette initiated coverage of the Hospital sector with a Neutral rating. Operators continue to face incremental pressures from alternative payment models that are shifting incentives towards lower-cost sites of care, Valiquette tells investors in a research note. He believes, however, that despite industry headwinds, operators levered to markets with high population growth and high relative market share will continue to outperform the industry. The analyst's only Overweight rated name in space is HCA Healthcare (HCA). The analyst initiated coverage of HCA with an Overweight rating and $150 price target. He sees HCA as well positioned in local markets. Valiquette also started Universal Health Services (UHS) and Tenet Healthcare (THC) with Equal Weight ratings. His lone Underweight rating is put on Community Health Systems (CYH). The company is still burdened with excessive debt and constrained free cash flow from its rural hospital footprint, Valiquette contends.

HCA

HCA Healthcare

$128.74

0.57 (0.44%)

UHS

Universal Health

$124.44

-0.01 (-0.01%)

THC

Tenet

$32.54

0.28 (0.87%)

CYH

Community Health

$3.15

0.06 (1.94%)

  • 15

    Aug

  • 22

    Aug

HCA HCA Healthcare
$128.74

0.57 (0.44%)

08/14/18
LEHM
08/14/18
INITIATION
Target $150
LEHM
Overweight
HCA Healthcare initiated with an Overweight at Barclays
Barclays analyst Steven Valiquette started HCA Healthcare with an Overweight rating and $150 price target.
08/02/18
MZHO
08/02/18
NO CHANGE
Target $145
MZHO
Buy
HCA Healthcare price target raised to $145 from $115 at Mizuho
Mizuho analyst Ann Hynes raised her price target for HCA Healthcare to $145 after traveling with management. The analyst thinks the company's underlying fundamental trends are "strong" and that consensus estimates likely have continued upside potential going forward. She keeps a Buy rating on HCA.
07/30/18
JPMS
07/30/18
NO CHANGE
Target $151
JPMS
Overweight
HCA Healthcare price target raised to $151 from $110 at JPMorgan
JPMorgan analyst Gary Taylor raised his price target for HCA Healthcare to $151 following the company's Q2 results. HCA's fundamental strength "was surprising and constitutes the basis for continued outperformance of the stock," Taylor tells investors in a post-earnings research note. The analyst continues to see relative utilization strength in the company's Southeast footprint and keeps an Overweight rating on the shares.
07/26/18
RHCO
07/26/18
NO CHANGE
Target $145
RHCO
Buy
HCA Healthcare price target raised to $145 from $125 at SunTrust
SunTrust analyst David MacDonald raised his price target on HCA Healthcare to $145 and kept his Buy rating after the "superb" Q2 earnings, driven by "strong organic volume, an adjusted EBITDA beat, robust cash flow and raised guidance". The analyst also notes the company's "strong core trends and increased acuity" that is magnified by the strengthening economy, anticipating HCA to accelerate its growth-oriented capital expenditure to broaden its service lines, increase capacity, and improve technology.
UHS Universal Health
$124.44

-0.01 (-0.01%)

08/14/18
LEHM
08/14/18
INITIATION
Target $135
LEHM
Equal Weight
Universal Health initiated with an Equal Weight at Barclays
Barclays analyst Steven Valiquette started Universal Health Services with an Equal Weight rating and $135 price target.
08/01/18
BMOC
08/01/18
DOWNGRADE
Target $125
BMOC
Market Perform
Universal Health downgraded to Market Perform at BMO Capital on higher costs
As reported earlier, BMO Capital analyst Matt Borsch downgraded Universal Health to Market Perform from Outperform and lowered his price target to $125 from $130. The analyst believes that the persistence of tougher-than-expected fundamentals in the company's behavioral care business, including an "unfavorable payer mix shift and labor cost pressures", will weigh on the company's revenue and earnings growth. Borsch also remains constructive on Universal Health's "conservative" balance sheet and strong free cash flow, which will give the company some flexibility in terms of capital deployment.
08/01/18
BMOC
08/01/18
DOWNGRADE
BMOC
Market Perform
Universal Health downgraded to Market Perform from Outperform at BMO Capital
07/18/18
GSCO
07/18/18
DOWNGRADE
Target $120
GSCO
Neutral
Universal Health downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Stephen Tanal downgraded Universal Health to Neutral from Buy and cut its price target to $120 from $138 following disappointing results. Tanal said demand for Behavioral Health services remains robust but tight reimbursement rates and strict prior authorization in Medicaid have subdued fundamentals.
THC Tenet
$32.54

0.28 (0.87%)

07/23/18
SBSH
07/23/18
NO CHANGE
Target $44
SBSH
Buy
Tenet price target raised to $44 from $37 at Citi
Citi analyst Ralph Giacobbe raised his price target for Tenet Healthcare to $44 saying he sees additional upside in the stock despite the 140% rally year-to-date. There is an underappreciation for additional upside within the hospital segment specifically around margin improvement, Giacobbe tells investors in a research note partially titled "Debunking the Rationale for Lower Margins." He keeps a Buy rating on Tenet.
08/14/18
LEHM
08/14/18
INITIATION
Target $35
LEHM
Equal Weight
Tenet initiated with an Equal Weight at Barclays
Barclays analyst Steven Valiquette started Tenet Healthcare with an Equal Weight rating and $35 price target.
08/08/18
MZHO
08/08/18
NO CHANGE
Target $36
MZHO
Buy
Tenet post-earnings selloff seems overdone, says Mizuho
Mizuho analyst Ann Hynes believes the post-earnings selloff yesterday in shares of Tenet Healthcare seems overdone. The Q2 earnings report shows Tenet has initiatives underway that should improve its earnings, margin and cash flow profile, Hynes tells investors in a research note. The analyst raised her price target for the shares to $36 from $35 and keeps a Buy rating on Tenet.
06/29/18
06/29/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Rexford Industrial (REXR) downgraded to Neutral from Buy at DA Davidson with analyst Barry Oxford saying over the last 18 month the stock has risen nearly 35%, the most in the industrial group. 2. C&J Energy Services (CJ) downgraded to Market Perform from Outperform at Wells Fargo with analyst Judson Bailey saying Downside risk for completion activity over the next few quarters and negative pricing and demand data points already rolling in for pressure pumping create risk to consensus estimates. 3. Tenet (THC) downgraded to Hold from Buy at Jefferies with analyst Brian Tanquilut saying the stock is fairly valued after rallying 128% year-to-date. 4. Accenture (ACN) downgraded to Neutral from Buy at BofA/Merrill with analyst Jason Kupferberg citing valuation following share outperformance over the past 12 months. 5. Diageo (DEO) downgraded to Market Perform from Outperform at Bernstein with analyst Trevor Stirling saying that while its share price has had a "great" 12 months and he has seen sustained improvements in the same period, "this is almost as good as it gets." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CYH Community Health
$3.15

0.06 (1.94%)

03/23/18
MZHO
03/23/18
INITIATION
Target $4.5
MZHO
Neutral
Community Health resumed with a Neutral at Mizuho
Mizuho analyst Ann Hynes resumed coverage of Community Health Systems with a Neutral rating and $4.50 price target.
08/14/18
LEHM
08/14/18
INITIATION
Target $3
LEHM
Underweight
Community Health initiated with an Underweight at Barclays
Barclays analyst Steven Valiquette started Community Health Systems with an Underweight rating and $3 price target.
07/23/18
GSCO
07/23/18
NO CHANGE
GSCO
Deal activity could pick up after LifePoint takeout, says Goldman Sachs
Goldman Sachs analyst Stephen Tanal said that although the hospital industry appears to be grappling with secular challenges, hospitals are still generating meaningful and relatively predictable cash flows and mostly trading at lower multiples than other stocks in the broader healthcare space. Given an environment in which rates are low, credit is available and financial buyers have "dry powder," he believes deal activity could pick up following LifePoint's (LPNT) agreement to be bought by Apollo Global (APO) affiliates. Community Health (CYH), like LifePoint, should be "relevant for years to come" as its hospitals are often the sole provider of acute healthcare services in small towns or rural areas, according to Tanal. HCA Healthcare (HCA), in contrast, is positioned in fast-growing markets with high levels of commercial coverage, Tanal added.
01/30/18
WELS
01/30/18
INITIATION
Target $4.5
WELS
Underperform
Community Health resumed with an Underperform at Wells Fargo
Wells Fargo analyst Peter Costa resumed coverage of Community Health Systems with an Underperform rating and $4.50 price target. The analyst believes the company's balance sheet issues are "sufficiently problematic that the equity is likely to be diluted substantially and a turnaround seems far off."

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NKE

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