Community Health price target raised to $8 from $4.75 at Truist

Truist analyst David MacDonald raised the firm’s price target on Community Health to $8 from $4.75 but keeps a Hold rating on the shares after its Q4 earnings beat. The company reported a "strong close" for 22 amid ongoing labor improvement, with Q4 adjusted EBITDA and 2023 guidance that was ahead of consensus expectations while also being driven by solid expected volumes, the analyst tells investors in a research note. The firm adds however that while it is positive on Community Health’s positioning in many of its markets given portfolio rationalization efforts and diversified portfolio of properties, its mixed cash flow trends and heavy leverage bear watching.