UPDATE - UBS Initiates Coverage on Lincare Holdings (LNCR) with a Buy; Breathing A Bit Easier

UPDATE - UBS initiates coverage on Lincare Holdings (NASDAQ: LNCR) with a Buy. PT $37.

UBS analyst says, "LNCR is a home oxygen provider led by a strong management team, with a distinct competitive advantage regarding patient referrals, in our view. Lincare is currently confronting an overhang from competitive bidding (round 2 is scheduled to take effect 7/2013). In our view, possible improvements to the round 2 process may lead to less severe price cuts than witnessed in round 1 (-32%). Also, we believe competitive bidding may result in further industry consolidation, which ultimately may benefit Lincare."

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