UPDATE: Citigroup Upgrades LifePoint Hospitals to Buy on Better Near Term

Citigroup raises its rating on LifePoint Hospitals LPNT from Neutral to Buy and raises its price target from $40 to $47. Citigroup notes, "We are upgrading LPNT from Neutral (2) to Buy/High Risk (1H) as we assume a more positive view of the near-term (30day) risk/reward around the Supreme Court's healthcare reform ruling. We are reducing the regulatory risk adjustment in our current target price methodology. Our new target price of $47 represents ~14.6x '13 P/E (ex-HCIT) and 6.9x EV/EBITDA without any effect of the healthcare reform law." LPNT closed at $37.55 on Friday.