Surgery Partners price target lowered to $42 from $50 at Mizuho

Mizuho lowered the firm’s price target on Surgery Partners to $42 from $50 and keeps a Buy rating on the shares post the “strong” Q3 report. Despite the solid quarter, the reduced price target is mainly an acknowledgment that it would be difficult for companies with higher leverage ratios to trade at the firm’s previous multiple given the macroeconomic environment backdrop, the analyst tells investors in a research note.