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BofA changes Surgery Partners rating to Buy

BofA changed the firm’s rating on Surgery Partners (SGRY) to Buy from No Rating with a $28 price target as the firm no longer believes that the stock is trading on deal speculation following June’s report that Surgery rejected a buyout offer from Bain Capital. Noting that the stock is trading at a depressed multiple, the firm cites the strong tailwinds it sees for Ambulatory Surgery Centers for its Buy rating.

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