As previously reported, Wells Fargo upgraded HCA Healthcare (HCA) to Equal Weight from Underweight with a price target of $385, up from $320. 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 HCA:
- HCA Healthcare upgraded to Equal Weight from Underweight at Wells Fargo
- HCA Healthcare price target raised to $410 from $370 at BofA
- Billions of dollars of Medicaid payments for hospitals delayed, WSJ reports
- HCA Healthcare Approves New Compensation Program
- HCA Healthcare: Strong Performance and Growth Potential Amidst Challenges
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue