- Wells Fargo has upgraded Universal Health Services ( NYSE: UHS ) to equal weight from underweight saying that the labor market for hospitals is improving and volumes are also likely to do so.
- The firm bumped its price target to $154 from $113 (~6% upside based on Friday's close).
- Analyst Stephen Baxter said that overall, the risk/reward for the hospital group in 2023 is "fairly balanced."
- "Non-COVID utilization has been slower to return than expected, but we think this will continue to improve in 2023 as disruptions to care patterns and staffing become less impactful," he wrote.
- Read why Seeking Alpha contributor Daniel Jones views Universal Health Services ( UHS ) as a buy.
For further details see:
Universal Health Services upgraded at Wells Fargo on improving operating environment