UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Mednax

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Mednax

, and raised its price target from $81.00 to $88.00. Jefferies noted, “MD is one of our top picks given our belief that the company's push to aggressively expand its anesthesiology business (which we expect mgmt to highlight at today's analyst day) will drive robust growth over the next several years that is not yet adequately reflected in the stock's valuation. Our positive bias is also driven by MD's highly defensive (i.e., benign) reimbursement outlook. Reiterate Buy/PT to $88.” Mednax closed on Tuesday at $75.29.