UPDATE: Citigroup Upgrades Athenahealth to Neutral, Raises PT to $52

Citigroup raises its rating on Athenahealth

to Neutral from Sell and raises its price target to $52 from $40 to reflect selloff following reduced guidance as a launchpad for growth. Citigroup comments, "We attended Athena's annual investor day, where the big news was the planned investment to accelerate business growth and lowered investors' 2012 earnings expectations. Shares were off almost 30% intraday, ending down about 15%. We believe the share shakeout creates a new baseline for growth off lower expectations, allowing us to get more positive on the shares and change our rating." ATHN closed at $49.04 per share on Thursday.