UPDATE: Cantor Fitzgerald Initiates Buy, $44 PT on Community Health Systems

Cantor Fitzgerald initiates a Buy rating and $44 price target on Community Health Systems CYH as the company's positive, acquisition-driven outlook. Cantor Fitzgerald comments, "Although its growth has slowed, Community Health Systems has been one of the most successful hospital companies over the past five years, and we like its recent build-out in Pennsylvania, Texas, and Illinois. Utilization remains weak, but management says that 1Q:12 looks better than 4Q:11, and the company has completed acquisitions that have added nearly $1.5 billion of annual revenue since 2010. As these hospitals are integrated, margins should improve. With a little help from the economy and the resolution of its investigations and legal matters, Community Health could be attractive long-term, in our view." CYH closed at $23.52 a share yesterday.