Stifel Cuts Price Target on TeamHealth Holdings (TMH) to $43; Reiterates Buy Following CEO Appointment
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Stifel maintained a Buy rating on TeamHealth Holdings (NYSE: TMH), and cut the price target to $43.00 (from $48.00). The company announced that Leif Murphy is now President and Chief Executive Officer as former CEO Michael Snow steps aside. Stifel views this transition positively. TMH also affirmed their guidance of net revenue of $4.64 billion - $4.71 billion, an implied net revenue growth rate of 29% to 31% and EBITDA margins expected to be 10.5%.
Analyst Chad Vanacore commented, "We are reducing our 2016 revenue estimates from $4.74 billion to $4.65 billion and adjusted EBITDA from $508.5 million to $490.3 million reflecting revenues and margins on the low end of management guidance. We expect operations to bounce back in 2017 and estimate margin expansion back toward the higher end of the 10.5-11% range as the company digests the recent IPC acquisition."
Shares of Team Health closed at $35.29 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- KLR Group Raise Price Target on Oasis Petroleum (OAS) to $22; Reiterates Buy
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesStifel, Definitive Agreement
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!