UPDATE: Citigroup Raises Target on AmSurg to $33

Citigroup raises its taget price on Buy-rated AmSurg (NASDAQ: AMSG) to $33, up $2, as it updates the company's model for 2012-2014.

Citigroup says, "4Q11 normalized results were slightly better than consensus and SS revs/vols were stable at +1% yty despite a tougher sequential comparison. We are making few changes to our model but expect market confidence to improve given the 2012 guidance. We are raising our 12-month target from $31 to $33 to reflect our net estimate changes and small-cap valuation appreciation since our last note."

AMSG closed at $26.17 a share on Thursday.

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