Goldman Sachs Lifts Numbers On athenahealth (ATHN), But Is Neutral On Valuation

Goldman Sachs raised estimates and its price target on athenahealth (NASDAQ: ATHN) from $47 to $58 but is keeping its Neutral rating following strong Q2 results.

The firm noted that Q2 was strong across the board and they expected Q2 to be another strong quarter due to sustainable GM expansion, good visibility into physician adds, and improved activity per account.

Goldman is sticking with their Neutral rating due to valuation and limited upside to long-term physician growth forecasts.

The firm raised 2011/2012/2013 EPS estimates to $0.88/$1.22/$1.58 from $0.83/$1.13/$1.42.

For more ratings news on athenahealth click here and for the rating history of athenahealth click here.

Shares of athenahealth closed at $57.09 yesterday.

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