Jefferies Upgrades HMS Holdings (HMSY) to Buy, Bottom Near

November 30, 2012 7:16 AM EST
Get Alerts HMSY Hot Sheet
Price: $17.80 -1.06%

Rating Summary:
    7 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies upgraded HMS Holdings (NASDAQ: HMSY) from Hold to Buy with a price target of $29.00 (from $21.50).

The firm comments, "We believe management has guided '13 with adequate conservatism, after misses in 2012. We are more optimistic on the positive impact of Medicaid expansion in 2014/15 and the high likelihood of Medicare RAC reprocurement. The remaining issue, a potentially soft 4Q, is being telegraphed and discounted in the stock. With HMSY down 40% from mid-'12 highs, investors should look to buy, with 4Q providing maybe a brief lower level."

The firm raised FY12 EPS from $0.90 to $0.97.

For an analyst ratings summary and ratings history on HMS Holdings click here. For more ratings news on HMS Holdings click here.

Shares of HMS Holdings closed at $22.61 yesterday.

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