UPDATE: Deutsche Bank Upgrades Mednax to Hold, Raises PT

In a report published Friday, Deutsche Bank upgraded its rating on Mednax

from Sell to Hold, and raised its price target from $65.00 to $76.00. Deutsche Bank noted, “MD's last two quarters have significantly allayed our concerns about a steeper slow-down in NICU trends. The combination of better-than-expected NICU volumes and stronger margins force us to reconsider our more cautious view on MD's earnings power. We move to Hold (from Sell), and raise our PT to $76 ($65) on higher estimates and our year-end process to roll-forward valuations off the new out-year (2014).” Mednax closed on Thursday at $73.41.