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Morgan Stanley sees opportunity for Universal Health ‘catch-up trade’

Morgan Stanley analyst Craig Hettenbach hosted a virtual fireside chat with Universal Health (UHS) CFO Steve Filton and reports that the meeting “highlighted solid underlying utilization trends” in the acute business, with growth in behavioral skewing more toward price. Given sharp stock underperformance, the firm sees “an opportunity for a catchup trade,” but adds that volume trends in behavioral and policy outcomes are “key.” The firm maintains an Equal Weight rating and $200 price target on Universal Health shares.

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