UPDATE: Cantor Fitzgerald Decreases PT on Vanguard Health Systems to $11 After Trimming Earnings
Cantor Fitzgerald remains at a Buy rating on Vanguard Health Systems (NYSE: VHS) and lowered its price target from $12 to $11.
Cantor Fitzgerald comments, “Our rating on Vanguard's stock remains BUY, but we are trimming our earnings estimates for 2012-2013 and lowering our price target from $12 to $11. The company continues to execute well, delivering solid admissions growth, stepping up its visibility with strong outcomes and building out the Detroit Medical Center, but increased financing costs and weaker revenue in Arizona and Illinois limit its near-term earnings outlook. We expect these problems to be resolved over the next two years.”
Vanguard Health Systems closed at $7.96 yesterday.
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