UPDATE: Raymond James Initiates Coverage on Accretive Health with Strong Buy Rating, $16 PT
In a report published Wednesday, Raymond James initiated coverage on Accretive Health (NYSE: AH) with a Strong Buy rating and $16.00 price target.
Raymond James noted, “We initiate coverage of Accretive Health with a Strong Buy rating and $16 price target. Our rating considers what we believe are the four most important components to the Accretive Health story: 1) 2013 healthcare information technology (HIT) focus to shift to revenue cycle; 2) differentiated infused management model; 3) opportunity to drive meaningful margin expansion; and 4) multiple expansion expected with Minnesota litigation in the rearview mirror. We view Accretive as a mid-teens to low-20 percentage point revenue growth story with non-GAAP EPS and adj. EBITDA growing at a faster pace as margins expand.”
Accretive Health closed on Tuesday at $12.47.
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