J.P. Morgan Maintains Overweight on Catalyst Health Solutions
J.P. Morgan is out with its report today on Catalyst Health Solutions (NASDAQ: CHSI), maintaining Overweight.
In a note to clients, J.P. Morgan writes, "This evening, OW-rated Catalyst Health Solutions provided its updated 2011 outlook following the closing of the Walgreens Health Initiatives acquisition. Catalyst now expects 2011 adjusted EPS of $2.30-2.40, which excludes transaction, transition, and integration costs as well as intangible asset amortization expense. This compares to the company's prior 2011 adjusted EPS guidance of $2.20-2.39. Given the announcement last month that CFO Hai Tran will be stepping down, there had been some concern in the market regarding numbers going forward. However, we believe the guidance and commentary serve to confirm the strong outlook, and expect the stock to react favorably to the news."
Shares of CHSI closed Wednesday at $59.12, up 2.25% from Tuesday's close.
