UPDATE: Jefferies Upgrades Health Management Associates to Buy on Multiple Expansion, Reform Momentum

Jefferies upgraded Health Management Associates

from Hold to Buy and raised the price target from $7.50 to $14.50. Jefferies analyst Brian Tanquilut commented, "We believe HMA shares still have meaningful upside left despite the stock's recent run given our view that sector multiples will continue to expand as key reform provisions take shape over the course of the next few months. As Medicaid expansion gains steam, especially in GOP-dominated states, and "exchange" pricing visibility improves, we expect HMA stock to continue rising." Health Management Associates closed at $12.26 on Friday.