Oppenheimer Raises PT to $48 on Life Point Hospitals and Reiterates Perform Rating

Oppenheimer analyst Michael Wiederhorn published a report on Life Point Hospitals LPNT that reiterated its Perform rating and raised the price target from $42 to $48. Oppenheimer reported that, “Our 12-18 month price target of $48 equates to approximately 6.5X our 2014 estimated EBITDA of $563M, which is a discount to the historical industry average of 8.5X, and a discount to our targeted multiples for the other hospital companies. We believe this discount is appropriate given the company's relatively inconsistent track record.” Shares of Life Point Hospitals closed at $47.19 on Thursday.