Citi Raises EPS From $2.83 To $2.93 And PT From $33 To $34 On Community Health Systems (CYH)

In a recent report, Citi has raised the EPS on Community Health Systems CYH from $2.83 to $2.93 and the price target on the company from $33.00 to $34.00 due to the sale of physician clinic and new "held-for-sale" hospital. In the report, Citi said, "We are slightly raising earnings estimates to account for better than expect 1Q11 NR/AA from acuity/mix. We remain well below consensus for 2011-13 due to our concerns that the negative publicity from the ongoing DOJ/OIG investigation will have a depressing impact on patient volume and revenue performance." CYH closed Friday at $30.63.