Oppenheimer lowered the firm’s price target on Community Health (CYH) to $4 from $5 and keeps an Outperform rating on the shares. The firm says the company struggled with volume/acuity trends during Q2, including softer surgical volumes at commercial/Marketplace payors, potentially due to economic or even immigration status concerns. Despite the depressed core earnings, Community Health was able to beat expectations due to the contribution of $75M of DPP not in prior guidance.
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