UPDATE: Jefferies Reiterates Buy Rating, Lowers PT on HMS Holdings Corp. on Good Position, Remaining Uncertainty

In a report published Monday, Jefferies analyst David Windley reiterated a Buy rating on HMS Holdings Corp.

, but lowered the price target from $34.00 to $30.00. In the report, Windley noted, “Significant uncertainty remains, but we believe this has more to do with timing than the eventual outcome. Management made some large cuts to revenue guidance and only a modest one to EPS—much of the earnings impact from the lower revenue can be mitigated by reallocating resources to other (growing) parts of its business. HMSY remains well positioned to benefit from Medicaid expansion in 2014 and beyond.” HMS Holdings Corp. closed on Friday at $25.33.