Deutsche Bank Downgrades Mednax (MD) to Hold; Pace of M&A Not Helping Multiple
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Price: $93.01 +0.87%
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade MD Now!
Deutsche Bank downgraded Mednax (NYSE: MD) from Buy to Hold, price target lowered from $81 to $73.
Deutsche analyst said, "Our Upgrade last Oct was predicated on growth in the core business stabilizing in the 3% to 3.5% range, and much greater potential earnings upside / multiple expansion from an accelerating M&A trend. We acknowledge that it is still early in MD's anesthesia M&A trajectory. Yet, we fear the co's slower pace of deals, coupled with a change in the co's margin profile due to the mix of acquired businesses, will lead to less multiple expansion than originally thought."
For an analyst ratings summary and ratings history on Mednax click here. For more ratings news on Mednax click here.
Shares of Mednax closed at $67.20 yesterday, with a 52 week range of $58.48-$75.86.
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Deutsche analyst said, "Our Upgrade last Oct was predicated on growth in the core business stabilizing in the 3% to 3.5% range, and much greater potential earnings upside / multiple expansion from an accelerating M&A trend. We acknowledge that it is still early in MD's anesthesia M&A trajectory. Yet, we fear the co's slower pace of deals, coupled with a change in the co's margin profile due to the mix of acquired businesses, will lead to less multiple expansion than originally thought."
For an analyst ratings summary and ratings history on Mednax click here. For more ratings news on Mednax click here.
Shares of Mednax closed at $67.20 yesterday, with a 52 week range of $58.48-$75.86.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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