UPDATE: Deutsche Bank Upgrades Mednax to Hold, Raises PT
In a report published Friday, Deutsche Bank upgraded its rating on Mednax (NYSE: MD) from Sell to Hold, and raised its price target from $65.00 to $76.00.
Deutsche Bank noted, “MD's last two quarters have significantly allayed our concerns about a steeper slow-down in NICU trends. The combination of better-than-expected NICU volumes and stronger margins force us to reconsider our more cautious view on MD's earnings power. We move to Hold (from Sell), and raise our PT to $76 ($65) on higher estimates and our year-end process to roll-forward valuations off the new out-year (2014).”
Mednax closed on Thursday at $73.41.
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