Jefferies Downgrades Sun Healthcare Group (SUNH) to Hold

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Jefferies downgraded Sun Healthcare Group (NASDAQ: SUNH) from Buy to Hold and lowers their price target from $15 to $9.

The firm cited, "...increasing probability that that skilled nursing facilities (SNFs) and long-term care hospitals (LTCHs) will be facing multiple years of Medicare pricing pressure and our expectation that this overhang will keep shares rangebound for the foreseeable future."

For more ratings news on Sun Healthcare Group click here and for the rating history of Sun Healthcare Group click here.

Shares of Sun Healthcare Group closed at $7.89 yesterday, with a 52 week range of $7.47-$15.01.

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