DaVita price target raised to $130 from $120 at Truist

Truist raised the firm’s price target on DaVita to $130 from $120 and keeps a Hold rating on the shares. The company’s “solid” Q4 results were marked by top and bottom-line beats and a FY24 guide that was “nicely above” consensus, driven by expected volume improvements and continued strong cost controls, the analyst tells investors in a research note. Some areas of pressure remain, but the better FY24 guide is underpinned by annualized benefits from FY23 headway, coupled with volume growth and IKC improvement, the firm added.