UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on HMS Holdings Corp.

In a report published Monday, Jefferies & Company reiterated its Buy rating on HMS Holdings Corp.

, and raised its price target from $29.00 to $34.00. Jefferies noted, “We hosted a series of meetings with CFO Walter Hosp. HMSY remains our top pick based on: (1) positive thematic momentum through 2013 with its growth leveraged to Medicaid expansion; (2) conservative 2013 guidance; (3) accelerating growth in '14 and '15; and (4) considerable investor interest in the stock. 4Q12 consensus has dropped since our upgrade, reflecting lower expectations discounted in the stock.” HMS Holdings Corp. closed on Friday at $27.88.