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Fly News Breaks for September 6, 2019
Sep 6, 2019 | 06:19 EDT
BofA/Merrill analyst Kevin Fischbeck upgraded HCA Healthcare to Neutral, also raising its price target to $137 from $130. The analyst notes that the company missed its Q2 results with EBITDA reported about $100M below consensus, but after a 15% decline in the stock price ahead of the release, he sees the valuation as "priced to perfection" and risk/reward more balanced at 7.5-times his expected 2020 EBITDA. Fischbeck adds that he expects HCA Healthcare to address the sales mix and earnings shortfall of Q2 faster than expected by the Street.