UPDATE: Piper Jaffray Raises PT to $32 on AmSurg; Long-Term Outlook Positive
Piper Jaffray maintained AmSurg (NASDAQ: AMSG) with a Neutral rating and raised the price target from $30.00 to $32.00.
Piper Jaffray commented, "We expect AMSG to trade down on mixed Q4 results and FY13 EPS guidance that was lower than Street estimates. Q4 revenues beat, while EPS missed Street expectations due to higher than expected interest expense relative to our model. While FY13 revenue guidance was fine, EPS was lower than expected. AMSG did see a slight uptick in GI procedures due to colon cancer screening and same-center growth of 3% was better than anticipated. We believe the overall environment remains stable and management noted hospitals are proactively reaching out to the company regarding partnership opportunities, which is a long-term positive."
AmSurg closed at $31.26 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.