Sterne Agee Reiterates Buy Rating, $24 PT on MedAssets Following Tenet/Vanguard Announcement

In a report published Monday, Sterne Agee analyst Greg T. Bolan reiterated a Buy rating and $24.00 price target on

. In the report, Sterne Agee noted, “This morning, Tenet Healthcare (THC, NR, $41.85) announced its intent to acquire Vanguard Health (VHS, NR, $12.37). We believe THC is MedAssets' largest client and that this acquisition represents potential new revenues to MedAssets, especially within the GPO business. MDAS remains our top pick within the HCIT industry; reiterate Buy rating and $24 PT.” MedAssets closed on Friday at $17.59.