Surgery Partners (SGRY) PT Raised to $55 at Stifel

Stifel analyst Tao Qiu raised the price target on Surgery Partners (NASDAQ: SGRY) to $55.00 (from $51.00) while maintaining a Buy rating.

The analyst commented, "Surgery Partners reported quarterly earnings that were largely in line with our above-consensus estimates. The 2022 outlook points to robust growth on both the top and bottom line with moderate margin expansion, supported by strong recruiting efforts and expansion in high value service lines. Moreover, cash flow is moving in the right direction, allowing the company to fund distributions and investment internally. We like the secular growth of ASCs and SGRY's execution as a consolidator in the space. We reiterate our Buy rating and increase our target price to $55 on higher estimates."

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