UPDATE: Feltl and Company Upgrades Metropolitan Health Networks to Strong Buy, Reiterates $10 PT

In a report published Friday, Feltl and Company upgraded its rating on Metropolitan Health Networks MDF from Buy to Strong Buy, and reiterated its $10.00 price target. Feltl and Company noted, “New growth drivers represent significant long-term opportunities. Metropolitan announced it's creating a new wholly owned subsidiary, Symphony Health Partners that will be responsible for managing Humana's 7,600 MA HMO members in Cincinnati and 2,300 MA HMO members in Indianapolis. These are MDF's first expansions outside of Florida and present an opportunity to prove its business model is transportable. This also reflects the strong relationship with Humana, which previously attempted to manage these members, but did not have the expertise or resources to drive the quality results that MDF has proven to in Florida.” Metropolitan Health Networks closed on Thursday at $7.98.