Wachovia Downgrades IPC The Hospitalist Company (IPCM) to Market Perform
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Wachovia downgrades IPC The Hospitalist Company (NASDAQ: IPCM) from Outperform to Market Perform with a valuation range of $22 to $24.
The firm said, "We continue to believe IPC is well positioned in an attractive and rapidly growing market and we remain confident in our revenue and earnings estimates. However, we see limited catalysts for multiple expansion and do not expect significant upside potential to earnings, particularly in the next two quarters."
IPC The Hospitalist Company, Inc. is a national physician practice group company with over 120 practice groups and over 590 affiliated hospitalists in the United States that manage inpatient care at over 300 hospitals across 18 states.
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