CIBC World Ups HCA to 'Sector Outperform'
CIBC World upgraded HCA (HCA ) to sector outperform from sector perform.
Analyst Charles Lynch says recent stock weakness is a buying opportunity. He thinks none of the concerns raised at Tenet Healthcare or by other peripheral events alter the positive fundamental picture for other hospitals, which he believes remain positive. Lynch notes HCA's attractive valuation, trading at 14 times his $3.07 2003 earnings per share estimate. He sees $2.67 2002 earnings per share and has a $63 target.