UPDATE: Deutsche Bank Initiates Coverage on Examworks Group with Buy Rating, $38 PT on Market Leader Position

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In a report published Thursday, Deutsche Bank analyst Shawn Bevec initiated coverage on
Examworks GroupEXAM
with a Buy rating and $38.00 price target. In the report, Deutsche Bank noted, “EXAM is the clear market leader in the niche, highly fragmented ~$6 bln independent medical examination (IME) market. The company has built a long term competitive advantage in the IME market by acquiring 46 smaller operators to become the only player with a national footprint across three of its four geographies. Together with an unrivaled IT infrastructure to streamline the IME process and offer superior data security, EXAM is uniquely positioned to significantly grow its market share long term through accelerated organic revenue growth and future tuck-in acquisitions.” Examworks Group closed on Wednesday at $28.71.
Posted In: Analyst ColorInitiationAnalyst RatingsDeutsche BankShawn Bevec
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