UPDATE: Goldman Sachs Initiates Performant Financial at Buy with $16 PT on Data Leverage

Goldman Sachs initiated its coverage on Performant Financial PFMT with a Buy rating and a price target of $16 a share. Goldman Sachs noted, "PFMT is a business process outsourcing (BPO) company focused on the student loan recovery and Medicare payments markets. Its key differentiation centers on its technology platform that translates large, disparate data sets into high probability collections leads and workflow management software that enables collections specialists to work with high efficiency. PFMT is well positioned to benefit from the secular growth of the student lending and Medicare markets it serves." Performant Financial closed at $10.85 on Friday.