UBS analyst Andrew Mok upgraded DaVita to Buy from Neutral with a price target of $142, up from $100. The analyst sees “inflecting treatment” growth in Q2 and Q3 ahead of accelerating growth in 2024 for the company. When combined with better pricing and a lower cost structure, DaVita has numerous tailwinds that support the firm’s Street-high earnings estimates and “contrarian Buy rating,” the analyst tells investors in a research note. UBS also believes DaVita will resume share repurchase in Q4, which it says should serve as a positive catalyst and an accelerant to 2024 earnings not reflected in consensus estimates.
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