UPDATE: Credit Suisse Raises PT on HCA Holdings Following 1Q13 Adjusted EPS

In a report published Friday, Credit Suisse analyst Ralph Giacobbe reiterated an Outperform rating on HCA Holdings

, and raised the price target from $41.00 to $47.00. In the report, Giacobbe noted, “HCA reported 1Q13 adjusted EPS of $0.79, in line with its recent pre-announcement. While volumes for the quarter were soft, causing a miss from previous expectations, we were encouraged with stronger April trends (+4%) and improving pricing metrics (+3.5% normalized). Moreover, commentary around 2014 was positive from both a reimbursement perspective (DSH and coding better than initial guidance) and related to exchanges (acceleration in signed contracts at rates closer to commercial). We continue to believe HCA is well positioned for 2014.” HCA Holdings closed on Thursday at $40.47.