Wells Fargo raised the firm’s price target on Community Health (CYH) to $3.50 from $2 and keeps an Underweight rating on the shares. The firm is now more constructive on the hospital group and sees policy risks as having receded following the House passage of budget reconciliation legislation. While the legislation will face changes in the Senate and needs to be passed again by the House, Wells believes healthcare spending cuts are unlikely to worsen and could potentially moderate. Although the coverage impacts will be a headwind, the firm thinks they are likely to be manageable.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CYH:
- Community Health Stockholders Approve Key Proposals at Meeting
- Community Health Completes $700M Senior Secured Notes Sale
- Community Health Announces Early Tender Results for Notes
- Billions of dollars of Medicaid payments for hospitals delayed, WSJ reports
- Community Health Systems’ Earnings Call Highlights Growth and Challenges
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue