Oppenheimer Reiterates Outperform On Community Health Systems, $60 PT


In a research report released today, Oppenheimer analyst Michael Wiederhorn reiterated an Outperform rating on Community Health Systems (NYSE:CYH) with a $60, which represents a potential upside of 7% from where the stock is currently trading.

Wiederhorn noted, “CYH reported 3Q14 adj. EPS of $1.00 (GAAP: ($0.54)), compared to our estimate of $0.70 and Street consensus of $0.77. Adj. results exclude $0.41 of gov’t settlement costs, $0.04 of legal expenses and $0.02 of HMA acquisition/integration expenses. Adj. EBITDA of $751M topped our estimate of $746M, while certain below-the- EBITDA-line items propelled the beat even further vs. our model. Following the quarter, CYH raised FY2014 EPS guidance to $3.05-3.30 vs. $2.70-3.20, which implies 4Q14 EPS of of $1.01-1.26 (vs. OPCO: $1.27E and Street $1.26E). Overall, CYH produced another beat despite the many moving parts affecting the business.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Michael Wiederhorn has a total average return of 19.5% and a 86.5% success rate. Wiederhorn is ranked #91 out of 3358 analysts.

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