UPDATE: Citigroup Upgrades athenahealth to Buy with $110 PT; HMA Win, Game-Changing

Citigroup upgraded its athenahealth

from Neutral to Buy and raised its price target from $52 to $110. Citigroup commented, "Athena announced the largest deal in the company's history, signing with HMA to deliver its Cloud-based EMR and RCM solutions to HMA's total 1,200 providers (~900 docs). Athena will also work with HMA to market its solutions to HMA's 10,000 affiliated providers. The deal addresses a key concern in our investment thesis, which was the company's ability to win large enterprise accounts." athenahealth closed at $88.38 on Wednesday.