UPDATE: Citi Raises PT on Community Health Systems to $24

Citi raises its price target on Community Health Systems

from $18 to $24 and has a Neutral rating with High Risk (2H) on the company in a research report out today. In the report, Citi writes, "Given the guidance, and very strong 4Q expense management, we are modestly raising estimates and are obviously chagrined to have only a Neutral rating as the stock bounced 15% on Wednesday. Nevertheless, CYH has not yet outperformed our estimates and significant macro binary events remain for 2012 (SCOTUS & Senate elections) - so it remains to be seen whether our caution for the year will prove warranted." Shares of Community Health Systems are currently trading at $24.68, up 3.53% from yesterday's close.