UPDATE: Duncan-Williams Upgrades Healthcare Services Group from Hold to Buy With Price Target at $16.75

Duncan-Williams has published a research report on Healthcare Services Corp

raising the rating on the healthcare provider. In the report, Duncan Williams wrote, "We believe that HCSG is a core holding for investors wanting to participate in the outsourcing trend among healthcare providers. We believe that the company is a core holding due to its high customer retention, strong balance sheet, and history of raising dividends. Our current 2012 revenue and EPS estimates are $943 million and $0.67. This represents 11% revenue growth and 16% EPS growth. This is in-line with management's growth target of 10-15% top-line growth." Duncan-Williams upgraded Healthcare Services Group from Hold to BUY with a price target initiated at $16.75. Healthcare Services Group closed Wednesday at $12.86.