UPDATE: Citigroup Raises PT to $89 on DaVita

Citigroup raises its price target on Neutral-rated DaVita DVA to $89 from $87 on on broader market valuation considerations following the company's integrated care ESRD opportunity. Citigroup says, "We believe integrated care could theoretically boost DVA's earnings power by 10% but only once ALL U.S. dialysis patients are enrolled, a process that we doubt could be completed sooner than 2016 or 2017. DVA remains an "S&P stock" in our opinion, rated Neutral. We are raising our PT to $89, due entirely to an increase in broader market valuations (S&P500 +13% since out last update)." DVA closed at $85.48 a share on Thursday.