UPDATE: Jefferies Raises PT to $8 on Sun Healthcare Group on Cost Controls

Jefferies increases its price target from $5 to $8 on Hold-rated Sun Healthcare Group SUNH as cost controls help the company meet quarterly consensus. Jefferies comments, "SUNH missed top line expectations (due to a milder-than-expected flu season) but still met consensus EPS via impressive cost controls. SUNH appears on target to achieve its FY12 EPS outlook of $0.45-$0.60, but concerns about continued top line weakness might pressure the stock near-term. Maintain Hold/$8PT (up from $5)." SUNH closed at $7.00 on Monday.