UPDATE: Credit Suisse Reinstates Coverage on Community Health Systems as HMA Transaction is Now Closed

In a report published Friday, Credit Suisse analyst Ralph Giacobbe reinstated coverage on Community Health Systems (NYSE: CYH) with an Outperform rating and $48.00 price target.

In the report, Credit Suisse noted, “We are reinstating coverage of Community Health Systems with an Outperform Rating and $48 target price. With the HMA transaction now closed, focus shifts to stabilizing operations and integration. While risks remain given soft underlying results and overhang of gov't investigations at both CYH and HMA, we believe synergy capture, healthcare reform benefits, and discounted valuation balance concerns.”

Community Health Systems closed on Thursday at $41.61.