Jefferies Downgrades Community Health (CYH) to Hold
Jefferies downgraded Community Health (NYSE: CYH) from Buy to Hold with a price target of $8.00 (from $18.00).
Analyst Brian Tanquilut commented, "We are downgrading CYH to Hold (PT to $18) given our belief that the company's series of earnings misses will make it difficult for investors to fully trust mgmt.'s FY16 EBITDA guidance. Compounding this overhang is a general aversion toward levered names in the current market environment and a broad-based correction in hospital valuations that we believe will prevent CYH shares from bouncing back meaningfully NT."
The firm cut FY 2016 EPS from $4.59 to $3.38.
For an analyst ratings summary and ratings history on Community Health click here. For more ratings news on Community Health click here.
Shares of Community Health closed at $18.68 yesterday.