UPDATE: Mizuho Securities Reiterates Neutral on Quorum Health (QHC) After Conversation with Management
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - August 24, 2016 9:55 AM EDT)
(Update corrects headline and body to indicate a phone conversation with management, not a meeting.)
Mizuho Securities reiterated a Neutral rating and $5.75 price target on Quorum Health (NYSE: QHC) after a phone conversation with management. The company confirmed that no tax would be due on asset sales.
Analyst Sheryl Skolnick commented, "Based on our Friday conversation with management in which we confirmed that no tax would be due on asset sales, we revised our waterfall analysis: We now require even more reasonable (lower) multiples to generate enough proceeds to make the Sr Notes 100% covered and to generate our MSUSA Likely case. Moreover, we confirmed that management understands it must sell the 8 (definitive agreement by November 1 for 4) AND make its guide, but we now have a bit more confidence in the guide itself. New likely equity value is $5.82, PT still $5.75."
Shares of Quorum Health closed at $6.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- Wedbush Raises Price Target on Trex (TREX) to $58; Reiterates Neutral
- Mizuho Securities Raises Price Target on Noble Energy (NBL) to $48; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS 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!