Seeking Alpha

AMN Healthcare raised to Neutral at UBS

  • 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.
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