NEW YORK (TheStreet) -- RATINGS CHANGES
Adeptus Health (ADPT) was initiated at overweight by Keybanc, which set a 12-month price target of $106. Adeptus has doubled the number of its facilities in each of the last two years and has targeted opening 24 new emergency rooms, Keybanc said. Despite its market-leading position, most of Adeptus' facilities are only in one state (Texas), and the company has barely penetrated the potential growth opportunity for freestanding ERs. Keybanc believes an Ebitda (earnings before interest, taxes, depreciation and amortization) compound annual growth rate of 20-30% for the next five years is achievable.
Colgate-Palmolive (CL) was upgraded to hold from sell by Societe Generale, which set a 12-month price target of $68. Growth headwinds are beginning to turn, Societe Generale said.
Commerce Bancshares (CBSH) was downgraded to neutral by D.A. Davidson, citing valuation. The firm set a 12-month price target of $48.
Dollar General (DG) was upgraded to outperform from sector perform by RBC Capital, which set a 12-month price target of $86, saying that labor and wage trends continue to improve.