Market Overview

UPDATE: JP Morgan Initiates Vanguard at Neutral on Vanguard Health Systems on Relative Reform Leverage

Related VHS
Benzinga's Top Downgrades
Benzinga Market Primer: Wednesday, August 21: FOMC Minutes Continue To Drive Markets

JP Morgan initiated coverage on Vanguard Health Systems (NYSE: VHS) with a Neutral rating and a $13 price target.

JP Morgan noted, "We are initiating coverage of VHS with a Neutral rating and a Dec-2013 price target of $13 given that it is underleveraged to the upside from reform and overexposed to the downside. Our JP Morgan Healthcare Reform Model projects a smaller and shorter benefit for VHS from the coverage expansion than others in the group: mid single-digit EBITDA growth in 2014-15, vs. high single / double digits for most peers, before cuts turn the net impact negative for VHS in 2017."

Vanguard Health Systems closed at $11.47 on Monday.

Latest Ratings for VHS

Aug 2013RBC CapitalDowngradesOutperformSector Perform
Jun 2013UBSDowngradesBuyNeutral
Jun 2013CitigroupDowngradesBuyNeutral

View More Analyst Ratings for VHS
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (VHS)

View Comments and Join the Discussion!