Mizuho Securities Upgrades Community Health (CYH) to Neutral
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Mizuho Securities upgraded Community Health (NYSE: CYH) from Underperform to Neutral with a price target of $10.50.
Analyst Sheryl Skolnick commented ,"With CYH down in sympathy (if not correlation) with QHC today, we are taking the opportunity to signal to investors that we think CYH shares now reflect a more appropriate multiple given the risks and are upgrading to Neutral. There is no fundamental change, in our view, just valuation. With few likely catalysts between here and earnings, we see reduced likelihood of another 10% downside in the short term. But make no mistake, we see even less reason for upside. Rating to Neutral, reiterate $10.50 target and estimates."
Shares of Community Health closed at $11.44 yesterday.
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