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.
Latest Ratings for MD
|Oct 2014||Baird||Initiates Coverage on||Outperform|
|Sep 2014||SunTrust Robinson Humphrey||Initiates Coverage on||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.