UPDATE: Jefferies Downgrades AmSurg to Hold on Guidance Uncertainties
Jefferies lowered its rating on AmSurg (NASDAQ: 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.
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