TD Newcrest Starts SXC Health Solutions (SXCI) at Buy; New Business Momentum Bodes Well

TD Newcrest initiates coverage on SXC Health Solutions (NASDAQ: SXCI) with a Buy. PT $67.00.

TD analyst says, "In our view, SXC is exceptionally positioned to capitalize on one of the most challenging issues in U.S. healthcare – managing spiraling pharmaceutical expenditures while optimizing quality of care. We are projecting SXC’s revenues to grow to $4.7 billion and $6.4 billion in F2011 and F2012, respectively, up from $1.9 billion in F2010; reflecting an 82% two-year CAGR We believe that the recent market correction has provided a good opportunity to purchase SXC’s stock at a reasonable price."

For more ratings news on SXC Health Solutions click here and for the rating history of SXC Health Solutions click here.

Shares of SXC Health Solutions closed at $51.41 yesterday.

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