UPDATE: Goldman Sachs Raises PT on Community Health Systems on Acquisition Plans
In a report published on Wednesday, Goldman Sachs analyst Matthew Borsch raised the target price on Community Health Systems (NYSE: CYH) from $44.00 to $48.00 and maintained a Neutral rating on the company.
In the report, Goldman Sachs stated, "CYH announced plans to acquire HMA [Health Management Associates, Inc] for $13.78/sh in a cash plus stock transaction...We view this proposed deal as a long term strategic positive for CYH as it would allow the company to consolidate its presence in markets like Florida, Pennsylvania, Tennessee and Texas... We raise our 12m target to $48...rewarding CYH for increased focus on capital allocation and shareholder returns.
Community Health Systems closed Tuesday at $45.58.
Latest Ratings for CYH
|Jan 2015||Credit Suisse||Maintains||Outperform|
|Dec 2014||Sterne Agee||Initiates Coverage on||Buy|
|Nov 2014||Wells Fargo||Downgrades||Outperform||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.