Goldman Sachs Upgrades Accretive Health (AH) to Buy
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Price: $11.09 -0.18%
Rating Summary:
4 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
4 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade AH Now!
Goldman Sachs upgraded Accretive Health (NYSE: AH) from Neutral to Buy with a price target of $31, suggesting 54% upside.
The firm notes shares are down 38% from recent highs on concerns over 2011 revenue guidance, a customer claims dispute, and a recent patient data security breach. Goldman believes these issues are temporary.
As investors become more comfortable with the growing pains "we believe focus will shift back to the key driver of growth; the overwhelming need for hospitals to improve profitability will accelerate traction for billing and collection outsourcing specialists," the analyst said.
For more ratings news on Accretive Health click here and for the rating history of Accretive Health click here.
Shares of Accretive Health closed at $20.30 yesterday, with a 52 week range of $8.30-$32.82.
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The firm notes shares are down 38% from recent highs on concerns over 2011 revenue guidance, a customer claims dispute, and a recent patient data security breach. Goldman believes these issues are temporary.
As investors become more comfortable with the growing pains "we believe focus will shift back to the key driver of growth; the overwhelming need for hospitals to improve profitability will accelerate traction for billing and collection outsourcing specialists," the analyst said.
For more ratings news on Accretive Health click here and for the rating history of Accretive Health click here.
Shares of Accretive Health closed at $20.30 yesterday, with a 52 week range of $8.30-$32.82.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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