UPDATE: Auriga Lowers PT on MedAssets from $21 to $19

Auriga has published a research report on MedAssets (NASDAQ: MDAS) lowering Price Target, but reiterating the BUY rating.

In the report, Auriga wrote, "We are making some modest downward adjustments to our FY12 estimates for revenue, EBITDA and EPS as we take a more conservative approach to top-line growth in the Company's Spend Management (Spend) segment. That said, we find the recent correction in MDAS' stock price overdone, as we still envision 70%+ upside to our downwardly revised price target."

Auriga rated MedAssets a BUY with a price target lowered from $21.00 to $19.00. MedAssets closed Monday at $10.87.