Fly News Breaks for December 12, 2019
Dec 12, 2019 | 04:56 EDT
Stifel analyst Chad Vanacore upgraded Mednax to Buy from Hold with a price target of $33, up from $25. The analyst sees a "compelling valuation with high upside potential and limited downside." Mednax's operations should stabilize through 2020 as the company has "dominant" share in its core neonatal business, "strong" free cash flow metrics, modest leverage and upside via restructuring efficiencies, Vanacore tells investors in a research note. Further, with activist Starboard calling for a sale of the company, the analyst says Mednax is an "attractive target."
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