BMO starts HCA Healthcare stock at Outperform on growth outlook

Investing.com reports that BMO Capital has initiated coverage on HCA Healthcare Inc (NYSE:HCA) with an "Outperform" rating and a price target of $495.00, citing strong demographic trends in the company's geographic investments and its resiliency program as growth drivers. HCA Healthcare currently trades at $438.16 with a market cap of $95.43 billion and appears undervalued according to InvestingPro analysis.

The firm expects HCA's EBITDA to compound in line with its 4-6% targeted CAGR, despite a challenging macro environment. HCA generated $15.75 billion in EBITDA over the past year, driven by 7.3% revenue growth and a P/E ratio of 14.77. Analysts view HCA as a top-performing operator with significant revenue and efficiency potential through its digital transformation.

Near-term catalysts include executing on second-half guidance and changing sentiment following mid-term elections. HCA Healthcare recently reported Q2 2026 earnings and revenue that surpassed expectations, posting adjusted earnings of $7.59 per share on $20.23 billion in revenue, but lowered its full-year profit guidance due to changes in its payer mix following ACA premium subsidy expiration.

Analyst reactions to these developments have been mixed, with Bernstein raising its price target to $426 and maintaining a "Market Perform" rating, while Truist Securities lowered its target to $495 and kept a "Buy" rating, and KeyBanc reducing its target to $435 but maintaining an "Overweight" rating.