Moody’s positive outlook and healthcare rotation lift Concentra

 

• Moody’s changed Concentra’s outlook to positive while affirming its Ba3 corporate rating.
• The October 14 rating action received broader reporting during Thursday’s trading session.
• Positive outlook signals improving credit trends and possible future upgrading, not an upgrade.
• Shares opened only 0.7% higher, then advanced another 3.7% intraday.
• Healthcare led Thursday’s market; XLV gained 1.84% and IHF rose 1.90%.
• UnitedHealth gained 2.79%, while U.S. Physical Therapy advanced 1.34%.
• Concentra’s 4.51% gain exceeded its 2.7% average daily trading range.

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