Leerink Partners Cuts Price Target on TeamHealth Holdings (TMH) After Meeting with Management
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Leerink Partners maintained an Outperform rating on TeamHealth Holdings (NYSE: TMH), and cut the price target to $40.00 (from $56.00), following the company's 2Q earnings report and management meetings. The company reported a soft 2Q miss on both revenue and EBITDA. Management remains optimistic on the potential for cross-selling synergies from IPC and even the realization of some BPCI synergies by year-end.
Analyst Ana Gupte commented, "We are lowering our PT to $40 for TMH after a weak 2Q and our meetings with Management, Mike Snow (CEO) and David Jones (CFO), in Nashville on Aug. 17, noting risks to 2016 EBITDA achievability across a) 2Q miss and guide-down, b) Slower turnaround of IPC legacy business, and c) leverage ratio that could hamper M&A."
Shares of Team Health closed at $34.12 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!