Market Overview

UPDATE: Bank of America Initiates Coverage on Envision Healthcare on Multiple Positive Factors

Related EVHC
Wall Street's M&A Chatter From August 8: Oclaro, Galena-Sellas, Envision Healthcare
Analyst: Buy CRH Medical After An 'Overdone' Selloff
Wall Street Relatively Flat in Premarket Trading (GuruFocus)

In a report published Monday, Bank of America analyst Kevin Fischbeck initiated coverage on Envision Healthcare Holdings (NYSE: EVHC) with a Buy rating and $34.00 price target.

In the report, Bank of America noted, “We are initiating coverage of Envision (EVHC), the largest provider of medical emergency services in the US, with a Buy rating and $34 PO. The defensive characteristics of the business, low- to mid-double-digit organic top line growth excluding Reform, and the fastest EBITDA growth in our coverage universe driven by the Reform benefits warrant a premium multiple vs most names in the sector. Our $34 PO is based on 13.6x our 2014E EBITDA, at a 6% premium to the PO multiple we use for our TMH PO.”

Envision Healthcare Holdings closed on Friday at $26.84.

Latest Ratings for EVHC

Dec 2016BarclaysReinstatesOverweight
Dec 2016OppenheimerUpgradesPerformOutperform
Dec 2016JefferiesMaintainsBuy

View More Analyst Ratings for EVHC
View the Latest Analyst Ratings

Posted-In: Bank of America Kevin FischbeckAnalyst Color Initiation Analyst Ratings


Related Articles (EVHC)

View Comments and Join the Discussion!