- AMN Healthcare Services (AHS +9.8%) gets a big boost from an upgrade to Neutral from Sell at UBS. The firm also raises its price target to $16 from $9.
- UBS says that despite an uneven turn around in the medical staffing sector, the company has continued to post solid numbers.
- Additionally, problems at its largest competitor, Cross Country Healthcare (CCRN), have created an opportunity for AHS to gain market share.
- The new $16 target is based on a multiple of roughly 20x UBS' 2014 EPS estimate, reflecting increased confidence AHS will continue to meet targets despite a challenging macro backdrop.