Oppenheimer Reiterates an 'Outperform' on Accretive Health (AH); Believe in Ascension Deal

July 5, 2012 8:59 AM EDT
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Price: $8.02 --0%

Rating Summary:
    2 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Oppenheimer reiterates an 'Outperform' on Accretive Health (NYSE: AH) price target of $17.00.

Analyst, Bret Jones, said, "Accretive Health filed a Form 8-K on Tuesday after the close that indicated it was in the process of a five-year renewal contract with its largest customer, Ascension Health. The renewal period was butting up against the 180-day notification period, so the two parties extended the notification period by 26 days...With the shares trading at 14x our and 18x consensus 2013 EPS estimates, we believe the market is pricing in additional customer losses. We continue to believe Ascension will renew by the end of the month and reiterate our rating."

For an analyst ratings summary and ratings history on Accretive Health click here. For more ratings news on Accretive Health click here.

Shares of Accretive Health closed at $11.24 yesterday.

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