RBC Capital lowered the firm’s price target on HCA Healthcare (HCA) to $384 from $405 and keeps an Outperform rating on the shares after its Q4 earnings miss. Medicaid direct payment programs and hurricane disruption noise made for spirited debate over the quality of the company’s Q4 earnings, but the firm continues to believe that HCA is well positioned for 2025 from a volume perspective, the analyst tells investors in a research note. RBC adds however that it is reducing its 2025 adjusted EBITDA estimate to $14.58B from $14.7B to reflect the still pending status of the Tennessee FY25 supplement in a turbulent regulatory landscape under the new presidential administration.
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