Jefferies Initiates Coverage On HCA With Hold Rating

According to Jefferies, HCA HMA coverage is initiated with a Hold rating. Jefferies reported that it is initiating coverage of HCA with a Hold rating and a $36 price target. “Valuation is our primary concern with this story. While we agree that HCA's scale, scope, and financial flexibility give it an advantage over competitors in the rapidly consolidating hospital sector, we believe this is fully priced into the stock.” HCA closed yesterday at $32.06.