UBS Lifts PT on HEALTHSOUTH (HLS) to $29.50

February 19, 2013 1:18 PM EST
Get Alerts HLS Hot Sheet
Price: $40.96 -1.87%

Rating Summary:
    8 Buy, 6 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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UBS raised its price target on Buy-rated HEALTHSOUTH (NYSE: HLS) from $27 to $29.50 following strong Q4 results and aggressive share buyback.

The firm notes: "HLS's 4Q12 revs increased 6.7% Y/Y to $552.9 mln, $9.3/$7.4 mln ahead of UBSe/cons. 4Q12 adj. EBITDA increased 4.6% to $128.6 mln, $10.9 mln ahead of both UBSe/cons and signific antly better than its implied 4Q guidance of $117.7-$120.7 mln. 4Q12 adj EPS of $0.44 was $0.12 ahead of both UBSe/cons"

HEALTHSOUTH also announced it plans to tender for as much as $350 million of its common stock, which the firm views as a "a significant positive, given the company’s historic aversion to share repurchase."

The firm raised FY12 EPS form $1.50 to $1.54 and FY13 was trimmed from $1.63 to $1.62.

For an analyst ratings summary and ratings history on HEALTHSOUTH click here. For more ratings news on HEALTHSOUTH click here.

Shares of HEALTHSOUTH closed at $22.47 yesterday.

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