Markets & Finance

Banc of America Raises Davita Rating

Banc of America raised its rating on dialysis services provider Davita (DVA) to strong buy from buy.

Analyst Todd Richter cited his positive outlook for the renal dialysis sector, his great respect for the management team, the company's improving fundamentals and the stock's extremely attractive valuation. The company on Monday third quarter earnings per share from operations of $0.31 versus $0.16.

Richter notes that the third quarter earnings per share of $0.06 is above his estimates. He says the the quality of the earnings per share are extremely high. He also notes that the stock performed exceptionally well over past year, but pulled back from a $22.36 high on Sept. 18.

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