HCA Healthcare price target raised to $475 from $465 at KeyBanc

KeyBanc analyst Matthew Gillmor raised the firm’s price target on HCA Healthcare (HCA) to $475 from $465 and keeps an Overweight rating on the shares to reflect increased estimates. The firm notes Q3 results were solid, highlighted by an 11% EBITDA beat supported by Medicaid SDPs and sequentially stronger volumes. Piper acknowledges valuation is elevated and EBITDA growth could be pressured starting 2028. However, the EBITDA baseline keeps moving higher and the utilization backdrop remains favorable.