Raymond James Ups Amsurg Rating
Raymond James raised its investment rating on shares of Amsurg (AMSG ) to strong buy from outperform.
Analyst John Ransom says he sees the recently concluded MedPAC meeting as a non-event. He says the most significant recommendation by MedPAC, that payments surgical centers receive for certain procedures be lowered to the same level as rates received by hospitals was watered-down, and not likely to be implemented due to technical and legal obstacles. He upgraded the shares as MedPAC issues have now receded; he finds the company's fundamentals, and risk/return at 15 times his 2003 EPS estimate compelling. Ransom says Amsurg has delivered an enviable 7-year track record as the only large "single specialty" company in the surgery center segment. He sees $1.42 2003 EPS and has a $30 price target on the shares.
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