UPDATE: JP Morgan Resumes Overweight on SXC Health Solutions, Raises PT to $109

JP Morgan resumes its coverage on SXC Health Solutions

with an Overweight rating and a price target that goes from $74 to $109. JP Morgan comments, "We remain bullish on the PBM sector overall, and point to a strong outlook for SXC based on positive new business trends. Further, the Catalyst acquisition provides SXC with increased scale and significant synergy opportunities to drive above-market EPS growth over the next few years. We believe SXC shares should continue to move higher as the focus shifts to the selling season and the earnings opportunity in 2013 and beyond." SXCI closed at $96.98 on Monday.