UPDATE: Credit Suisse Raises Target on Lincare Holdings to $29

Credit Suisse reiterates its Hold rating on Lincare Holdings LNCR and raises its price target by $1.50 to $29 as the company's Q4 results came in largely in line with expectations. Credit Suisse comments, "LNCR reported Q4 revs of $492.2M (+16.6% yoy), driven by +6% internal/organic, +12% from M&A and -1.2% from Medicare pricing impacts. Revs beat consensus by 1.7% due primarily to better sequential gains in LNCR's newly-acquired specialty Rx business units. Despite the top-line beat, EBITDA of $116.6M was slightly below consensus of $117.6M due to higher COGs associated with the Rx business. EBITDA margin of 23.7% was 320 bps lower yoy, although the base business GMs remain relatively stable according to mgmt. EPS was $0.51 or in-line with consensus, but slightly below DBe's $0.52 with an in-line sharecount." LNCR closed at $26.30 a share on Monday.