MedAssets Signs Reseller Agreement; Citigroup Maintains Estimates, Buy Rating and Price Target

Citigroup has stated that it maintains its estimates, Buy rating and $29 price target for MedAssets, Inc.

following an announcement from Cerner Corporation's

. Cerner has signed an agreement to market MedAssets' full suite of Web-based revenue technology solutions. “To our knowledge, this is the first reseller agreement MedAssets has signed of this significance, if not the first one outright,” Citigroup writes. “Further, a non-exclusive reseller agreement allows MDAS the opportunity to sign other reseller agreements for its RCM offerings. Net-net, while extremely early, this could be a meaningful reseller agreement for MDAS' RCM business.” MedAssets currently trades for $20.73. Cerner, though not rated in the report, trades for $85.67,