UPDATE: Credit Suisse Raises PT on Universal Health Services on Above Consensus 4Q12 EPS Report

In a report published Friday, Credit Suisse reiterated its Outperform rating on Universal Health Services

, and raised its price target from $51.00 to $64.00. Credit Suisse noted, “UHS reported 4Q12 EPS of $1.00 (excl. $0.06 from HCIT), above consensus of $0.93, and provided initial 2013 EPS guidance of $4.35 to $4.50 with the top end of the range being in-line with consensus. While the quarter showed strong results, with continued execution on the behavioral side and promising improvement in the acute business, the focus will likely be on disclosure of an OIG subpoena received in February regarding several UHS-owned psych facilities. It is generally difficult to handicap these types of investigations, and we will look for further commentary during the call today. That said, we remain encouraged around the operational improvement in the quarter and potential benefits from reform in 2014. Maintain Outperform and raise TP to $64 (from $51). We adjusted our estimates to reflect 4Q12 results.” Universal Health Services closed on Thursday at $57.89.