Goldman Sachs Upgrades Accretive Health (AH) to Buy

October 21, 2011 6:47 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: 0 | Down: 0 | New: 0
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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.

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