KeyBanc Upgrades HCA Holdings (HCA) to Overweight
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KeyBanc upgraded HCA Holdings (NYSE: HCA) from Sector Weight to Overweight with a price target of $94. Analyst Jason Gurda sees favorable risk/reward.
"We are upgrading HCA shares to Overweight with a $94 price target based on our view the shares offer a favorable risk/reward scenario based on: 1) the election could provide a near-term catalyst as the stock does not appear to have priced in recently improved polling of a Democratic win; 2) its moderate EPS growth outlook at a very attractive valuation (P/E under 11x and expected threeyear average EPS growth of 8-12%); 3) the Company’s strong urban market positioning and history of consistent execution; and 4) HCA’s moderate leverage and strong free cash flow profile ($2.3B/year or nearly $6/share in FCF)," said Gurda.
Shares of HCA Holdings closed at $76.89 yesterday.
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