UPDATE: Deutsche Bank Downgrades HealthSouth Corporation to Hold; Valuation Full
Deutsche Bank downgraded HealthSouth Corporation (NYSE: HLS) from Buy to Hold and lowered the price target from $28.50 to $25.00.
Deutsche Bank commented, "HLS' revenue growth prospects remain underpinned by good organic volume trends, acceleration of de novos and JV/M&A opportunities. Despite our favorable view for "HLS the company," we see a more balanced risk/reward for "HLS the stock," with the potential for Medicare pressure over the next 12-24 months the key gaiting factor for HLS' valuation multiple. Hold more accurately reflects our stance on HLS shares."
HealthSouth Corporation closed at $23.86 on Thursday.
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