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Ahead of the Bell: Universal Health Services



By AP
13 June 2008 @ 08:12 am EST

NEW YORK - Shares of hospital operator Universal Health Services Inc. have traded around all-time highs in recent weeks, which caused a Wachovia analyst to downgrade the stock Friday.

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UHS 41.05 -2.09

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William Bonello said the stock has reached a fair price compared with UHS's expected future profits. He lowered his rating on the shares to "Market Perform" from "Outperform," and held a fair value range of $60 to $64 per share.

Shares of the King of Prussia, Pa., company are up 20.7 percent this year, and have been trading above $60 since April 25--the day after UHS reported its first-quarter results. The stock set an all-time high of $65.98 May 30 and closed at $61.79 Thursday.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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