UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Community Health Systems

In a report published Monday, Jefferies & Company reiterated its Hold rating on Community Health Systems

, and raised its price target from $26.00 to $29.00. Jefferies noted, “We are adjusting our CYH estimates to reflect more reasonable revenue and margin assumptions. While we acknowledge that CYH's discounted valuation, relatively easy 2H12 ‘comps', and the possible stock move from a potential Obama win could ignite some upward momentum in the stock in the next few months, we are staying on the sidelines for now given our expectation for pre-election volatility in the hospital space. Raising PT to $29.00.” Community Health Systems closed on Friday at $28.96.