09:23 AM EDT, 08/23/2024 (MT Newswires) -- HCA Healthcare ( HCA ) is well-positioned to continue gaining market share as it undertakes technology investment and efficacy initiatives and deploys an accretive capital strategy, RBC Capital said in a note Friday.

The company is exploring AI solutions to unlock value, like improving documentation, data flow for physicians and enhancing decision support systems," RBC said.

"HCA continues to beat the drum on near- and long-term opportunities leveraging AI across administrative, operational, and eventually clinical domains," RBC said.

HCA's long-term strategy also involves initiatives to support facilities locally. For example, expanding the Galen school of nursing from 20 to 30 campuses with the aim of doubling enrollment to 30,000 by 2027 would ensure a steady supply of HCA-ready graduates, RBC said.

The firm said it is too early to determine demand trends beyond this year but HCA management is optimistic about a long-term growth rate of 2-3%, with the potential for increased market share.

The brokerage firm raised HCA Healthcare's ( HCA ) price target to $405 from $378 and reiterated its outperform rating.

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