UPDATE: J.P. Morgan Raises PT on Vanguard Health Systems on Expected Coverage Expansion

In a report published Monday, J.P. Morgan analyst Justin Lake reiterated a Neutral rating on Vanguard Health Systems

, and raised the price target from $13.00 to $15.00. In the report, Lake noted, “Our Vanguard thesis is predicated on coverage expansion under reform providing a substantial boost in 2014, Vanguard's record of innovative payment models, significant local concentration, margins below their peers leaving leverage to upside improvement, geographic concentration levered to an improvement in Detroit, and their unique position as a health plan operating serving to diversify earnings.” Vanguard Health Systems closed on Friday at $16.62.