UPDATE: Citi Initiates HCA Holidings at Buy (HCA)

Citi is out with its report today on HCA Holdings (NYSE: HCA), initiating HCA at Buy.

In a note to clients, Citi writes, "This large, respected and sophisticated hospital operator reemerges as a core healthcare services holding. Through 3 IPOs and 2 leveraged buyouts over the last 43 years, the prevailing quality and positioning of HCA's underlying hospital assets remain generally unparalleled."

Citi has a $41 PT on HCA.

At the time of posting, shares of HCA were trading pre-market at $33.05, up 3.02% from Monday's close.