Deutsche Bank Maintains a 'Hold' on Advisory Board Company (ABCO); Raises Price Target on Confident Outlook
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- Deutsche Bank Maintains a 'Hold' on Advisory Board Company (ABCO); Raises Price Target on Confident Outlook
- The Advisory Board Company (ABCO) Reports Mixed Q1 Results; Guides
Deutsche Bank maintains a 'Hold' rating on Advisory Board Company (Nasdaq: ABCO), raises price target from $22 to $29.
Deutsche analyst says, "We are increasingly confident that ABCO can navigate this economic downturn with almost no decline in contract value (<1%). We are raising our FY10E 2Q EPS from $0.29 to $0.30, but lowering our FY3Q EPS from $0.31 to $0.27. Our CY09E EPS go from $1.10 to $1.09, aligning us slightly above the midpoint of management's reiterated $0.90 to $1.20 range. We maintain our Hold as we remain cautiously optimistic about future hospital budgets.
"On 7/31, a 1.6% increase in Medicare inpatient hospital pricing was announced vs. a proposed 0.5% cut. We note that this could lead to as much as a 1% increase in hospital revenues and could help ease some pressure on Hospital budgets, and thus ABCO, as all of this increase is potential upside to Hospital expectations."
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The Advisory Board Company provides best practices research, analysis, executive education and leadership development, decision support tools, and installation support services primarily to the health care industry.
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