UPDATE: Auriga Lowers Community Health Systems' PT

According to a research report published earlier today, Auriga has maintained its Hold rating on Community Health Systems (NYSE: CYH) due to government investigation with an unclear timeline/settlement.

In the report, Auriga said, “CYH reported non-GAAP EPS of $0.90 (based on our calculation), considerably above our and consensus estimates of $0.85/$0.82. We note that lower tax rate and share count helped by about $0.05. Nevertheless, a 4Q consensus beat, highlighted by better than expected cost management which drove EBITDA margin above expectations. 2012 guidance is as expected, but we note that CYH is usually conservative.”

Auriga lowers its PT on Community Health Systems from $26 to $24. Community Health Systems closed yesterday at $20.65.