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UPDATE: Morgan Stanley Initiates Health Management Associates at Underweight on

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Morgan Stanley initiated Health Management Associates (NYSE: HMA) with an Underweight rating.

Morgan Stanley commented, "We think HMA is well positioned to benefit from healthcare reform and has manageable exposure to potential cuts being discussed as part of the deficit debate. However, we have a lower earnings trajectory for HMA through 2016 with a CAGR of 7.8% versus 9.1% on average for the other names after accounting for HCIT payments.Continued overhang from “60 Minutes” segment and related government investigations, which we think may weigh on admissions and multiples."

Health Management Associates closed at $9.51 on Wednesday.

Latest Ratings for HMA

Dec 2013Wells FargoDowngradesOutperformMarket Perform
Sep 2013Avondale PartnersDowngradesMarket OutperformMarket Perform
Aug 2013SunTrust Robinson HumphreyDowngradesBuyNeutral

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