Jefferies Upgrades Team Health (TMH) to Buy
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Jefferies upgraded Team Health (NYSE: TMH) from Hold to Buy with a price target of $47.00 (from $49.00).
Analyst Brian Tanquilut commented, "Upgrading TMH to Buy given our belief that investor expectations, along with the stock's valuation, have hit trough levels. While we recognize that stock upside hinges on mgmt. execution, any progress with the IPCM integration or the realization of BPCI revenues, in our view, should drive earnings upside and re-ignite positive stock momentum. We also expect TMH to be a beneficiary of MACRA-driven consolidation given its aggressive M&A strategy."
The firm lowered FY 2016 EPS from $2.89 to $2.73 and FY 2017 EPS from $3.29 to $3.13.
Shares of Team Health closed at $36.04 yesterday.
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