Wells Fargo Starts IPC The Hospitalist Company (IPCM) at Market Perform; Growth Shift Toward Hiring Versus Acquiring

Wells Fargo initiates coverage on IPC The Hospitalist Company (NASDAQ: IPCM) with a Market Perform. PT range $34-39.

Analyst, Gary Lieberman, said, "We expect growth in 2012 to shift away from acquisitions which has been the primary driver in 2010-2011 and towards hiring. Our estimates are in-line with consensus and we believe there is limited upside potential in H1 2012 due to the slower acquisition pace in 2011. The company may continue to experience some pressure from temporary labor use similar to Q4 2011 during H1 2012. We believe the IPC story will become more interesting as we see an acceleration in acquisitions."

For an analyst ratings summary and ratings history on IPC The Hospitalist Company click here. For more ratings news on IPC The Hospitalist Company click here.

Shares of IPC The Hospitalist Company closed at $34.24 yesterday.

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