Jefferies reiterated its Hold rating on IPC The Hospitalist IPCM but raised its price target from $46 to $47.
Jefferies noted, "IPC's entry into New York state with its acquisition of a post-acute hospitalist provider highlights the company's commitment to driving growth through a combination of organic capacity expansion and acquisitions, as well as its strategic focus on expanding outside the hospital into post-acute settings. While we have a positive bias on the name given its compelling fundamentals, we are maintaining our Hold give the stock's valuation."
IPC The Hospitalist closed at $45.70 on Friday.
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