Deutsche Bank Raises Price Target To $101 On DaVita

According to Deutsche Bank, DaVita DVA price target is raised to $101 and estimates are raised. Deutsche Bank reported that it is raising estimates as a result of CMS' issuance of a fix to the so-called transition budget-neutrality adjustment, which was announced late Friday April 1, 2011 and goes into immediate effect. “Although we had incorporated a partial fix into our 2012 forecasts, the fix was better than our expectations (3.1% reduction reduced to zero) and thus leads us to modestly adjust 2012 and significantly raise 2011. On higher estimates, we are raising our PT to $101 ($98) and reiterate Buy rating due to DVA's favorable outlook.” DaVita closed on Friday at $86.53.