UPDATE: Stifel Nicolaus Raises PT to $83 on Mednax Post Investor Day

Stifel Nicolaus reiterated its Buy rating on Mednax (NYSE: MD) and raised its price target from $74 to $83.

Stifel Nicolaus noted, "MEDNAX demonstrated strong top-line and margin growth prospects for its American Anesthesiology division at its investor day. We are raising our target price to reflect this growth as well as pending increases to Medicaid payments to neonatologists. … We came away impressed by both the division's prospects for consolidating the anesthesiology specialty and the potential for improving affiliated practices' financial performance through the rollout of its proprietary clinical software."

Mednax closed at $75.63 on Wednesday.

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