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Cantor Fitzgerald Starts Cross Country Healthcare (CCRN) at Buy; Improved Fundamentals

May 29, 2012 7:53 AM EDT Send to a Friend
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Price: $8.26 -2.13%

Rating Summary:
    3 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 23 | New: 13
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Cantor Fitzgerald initiates coverage on Cross Country Healthcare (NASDAQ: CCRN) with a Buy. PT $6.00.

Analyst, Joseph D. France, said, "After years of economic headwinds, Cross Country's fundamentals have improved, and we believe that the stock, which is very near its all-time low, is attractive at current levels. Nurse staffing volume is half of what it was in 2007, and margins are down by two-thirds from their peak, but although demand has already improved, there is substantial potential upside. We expect a big earnings ramp over the next four to six quarters to push the stock higher."

Analyst France sees FY12 EPS estimate at $0.15 and FY13 at $0.35.

For an analyst ratings summary and ratings history on Cross Country Healthcare click here. For more ratings news on Cross Country Healthcare click here.

Shares of Cross Country Healthcare closed at $4.03 yesterday.




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