UPDATE: Jefferies Downgrades AmSurg to Hold on Guidance Uncertainties

Jefferies lowered its rating on AmSurg AMSG from Buy to Hold and reduced its price target from $31 to $27. Jefferies commented, "We have serious concerns about AMSG's ability to hold its expensive 9x EBITDA multiple without a guidance raise in the face of a dimming economic backdrop and end-of-year uncertainties (the election, fiscal cliff, Medicare doc fix, etc.). For that reason, we are downgrading this stock to Hold and setting our PT at $27. AmSurg closed at $29.70 on Tuesday.