Deutsche Bank Downgrades HCA Holdings (HCA) to Hold; Headwinds Appear Too Strong
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Price: $404.68 -1.71%
Rating Summary:
23 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank downgraded HCA Holdings (NYSE: HCA) from Buy to Hold, price target lowered from $33 to $23.
Deutsche analyst says, "While we remain constructive on the quality of HCA’s assets, the durability of its FCF and its market leadership position, we believe the organic EBITDA growth potential of the enterprise has turned out to be much less robust than we originally thought. HCA’s recent drop in acuity/mix in its Medicare business, its weaker MCO pricing trends and its more significant exposure to riskier supplemental Medicaid funding (UPL) has led us to further adjust our EBITDA forecasts."
"For valuation purposes, we forecast 2012 adjusted EBITDA less minority interest expense of $5.985 billion. We’ve raised our 2012 EPS for HCA to $3.31 (from $3.25 and vs. $3.24 for consensus)."
For more ratings news on HCA Holdings click here and for the rating history of HCA Holdings click here.
Shares of HCA Holdings closed at $18.61 yesterday.
Deutsche analyst says, "While we remain constructive on the quality of HCA’s assets, the durability of its FCF and its market leadership position, we believe the organic EBITDA growth potential of the enterprise has turned out to be much less robust than we originally thought. HCA’s recent drop in acuity/mix in its Medicare business, its weaker MCO pricing trends and its more significant exposure to riskier supplemental Medicaid funding (UPL) has led us to further adjust our EBITDA forecasts."
"For valuation purposes, we forecast 2012 adjusted EBITDA less minority interest expense of $5.985 billion. We’ve raised our 2012 EPS for HCA to $3.31 (from $3.25 and vs. $3.24 for consensus)."
For more ratings news on HCA Holdings click here and for the rating history of HCA Holdings click here.
Shares of HCA Holdings closed at $18.61 yesterday.
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