UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Mednax Following Recent Plateauing

In a report published Tuesday, Jefferies analyst Brian Tanquilut reiterated a Buy rating on Mednax MD, and raised the price target from $95.00 to $108.00. In the report, Jefferies noted, “We continue to have a very positive bias on MD and view the stock's recent plateauing as a compelling opportunity to build positions in a growthy name that has a number of upside-driving positive catalysts on the horizon (bump in Medicaid rates likely by Q3 and plans for numerous accretive acquisitions between now and year-end). Raising PT to $108.” Mednax closed on Friday at $91.95.