Universal Health price target raised to $169 from $163 at Credit Suisse

Credit Suisse analyst A.J. Rice raised the firm’s price target on Universal Health to $169 from $163 and keeps an Outperform rating on the shares. The firm notes that shares are weak on Wednesday, largely due a slowdown in volume growth in the company’s behavioral health segment. Management also said that the acute behavioral hospital segment saw patient days growth 3.3%, but because of referral and regulatory issues at a handful of residential treatment centers, RTC patient days dipped 4.8% year-over-year. Credit Suisse believes these issues are expected to be short term and to resolve themselves in the second half of 2023.