UPDATE: Jefferies Initiates Coverage on Envision Healthcare on Best Reform Play

In a report published Monday, Jefferies analyst Brian Tanquilut initiated coverage on

with a Buy rating and $34.00 price target. In the report, Jefferies noted, “We are initiating coverage on EVHC with a Buy rating and a $34 PT based on our view that it is one of the best ways for investors to position for the upcoming implementation of ‘healthcare reform.' In addition to the earnings tailwind from reform-driven bad debt reduction, our positive view is also influenced by EVHC's proven ability to consistently deliver robust organic and acquisition-driven growth.” Envision Healthcare Holdings closed on Friday at $26.84.