UBS upgraded DaVita’s (NYSE:DVA) rating from Neutral to Buy, revising the price target upwards from $100.00 to $142.00. As a result, shares gained more than 3% yesterday.

The firm’s rationale hinges on notable positive revisions to the 2024 forecasts for EBIT, which is now anticipated to reach $1.793 billion, and EPS, projected at $9.00. Both these estimates significantly surpass Street consensus figures.

The bank’s viewpoint underscores the anticipation of a turning point in treatment growth, expected in the second and third quarters, followed by a more pronounced surge in 2024. This growth trajectory is reinforced by improved pricing strategies and a more streamlined cost structure, integrating savings from the End Stage Renal Disease Seamless Care Organizations (ESA) and clinic closures.

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