Zacks Investment Research upgraded shares of Healthways Inc. (HWAY) from UNDERPERFORM to NEUTRAL on May 27, 2014, with a target price of $18.00.
We have upgraded our recommendation on Healthways to Neutral from Underperform following the company's upbeat 2014-first quarter results, where loss of $0.07 was lower than the loss of $0.12 per share in the prior-year quarter, as well as narrower than the Zacks Consensus Estimate of a loss of $0.11 per share. The company also expects adjusted earnings in a range of $0.11 to $0.26 per share for 2014, while revenues are expected to rise 10-15% to a range of $730 million to $760 million in the year. Growth in the U.S. is expected to slow down, and total number of billable lives may stagnate, which will be partly offset by cross-sell opportunities. Healthways considers itself to be a global well-being company though overseas contract wins. Our target is $18.00 on the stock.
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