Credit Suisse raised the firm’s price target on Universal Health to $163 from $153 and keeps an Outperform rating on the shares following quarterly results. The firm notes the company saw a significant year-over-year decline in COVID cases, from 14% of admits in Q1 2022 to 4% in Q1 2023. The year-over-year decline in COVID cases also contributed to the strong growth in overall admissions as patients returned to the healthcare system. UHS says it is seeing some recapture of pent-up demand, as surgical volumes return to pre-pandemic levels.
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