UPDATE: Goldman Sachs Upgrades SXC Health to Buy
Goldman Sachs raises its rating on SXC Health (NASDAQ: SXCI) to Buy from Neutral and raises its price target to $86 as the company appears best positioned to benefit from the selling season in the near term.
Goldman Sachs says, "We upgrade SXC Health (SXCI/SXC.TO) to Buy from Neutral and see 19% upside to our new US$86/C$86 12-month price targets. Near-term, we believe SXC will benefit meaningfully in the current selling season and see the opportunity as still underappreciated despite positive EPS revision and stock outperformance YTD. Looking out further, and recognizing the company has grown its revenue almost 6X over the 3 years, we model revenue more than doubling by 2015, exclusive of any future acquisitions which is a key component of SXC's strategy."
SXCI closed at $72.54 a share yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.