Jefferies Downgrades Catamaran amid news that competing bids for company are unlikely

Jefferies issued a company note on Tuesday highlighting Catamaran Corporation

. Jefferies downgraded Catamaran from Buy to Hold and raised their price target from $58 to $61.50. Brian Tanquilut and Jason Plagman, analysts at Jefferies, wrote, "We expect the UnitedHealth Group Inc.

offer to stand and for the deal to close in 4Q15 as both companies expect. Our view is that Express Scripts Holding Company

is uninterested given the antitrust issues that a deal for CTRX will bring." Jefferies was surprised by Catamaran's decision to sell itself given that the company was well positioned to gain market share. The current bid for Catamaran is $61.50 per share. Catamaran is believed to be a top notch addition to UnitedHealth Group as it should increase the company's purchasing power and allow them to maintain better relationships with vendors. Catamaran Corporation is currently trading at $59.28, up 0.07 percent. UnitedHealth group is currently trading at $117.92, up 0.19 percent. Express Scripts is currently trading at $84.72, down 0.18 percent.