HCA Healthcare price target lowered to $401 from $404 at RBC Capital

RBC Capital analyst Ben Hendrix lowered the firm’s price target on HCA Healthcare (HCA) to $401 from $404 and keeps an Outperform rating on the shares. Despite the Q2 beat and raise, the firm is not surprised to see HCA shares trade modestly lower after the print given the softer volume outlook and greater-than-expected rate support from supplemental programs, the analyst tells investors in a research note. RBC adds however that it is encouraged by the management’s confidence in resiliency efforts and its ability to mitigate Medicaid and exchange provisions of the OBBB.