Jefferies Lifts Numbers on SXC Health Solutions (SXCI) After BCBS-RI Contract Win

Jefferies raised its price target on SXC Health Solutions (NASDAQ: SXCI) from $68 to $71 following the BCBS-RI contract win. The firm also raised next year's estimates and reiterated a Buy rating.

The firm comments, "SXC's BCBS-RI contract win, in our view, is evidence of the company's strong contracting momentum and its increasing ability to win business away from its larger competitors. As interest in the company's service offering continues to grow and ongoing disruptions in the PBM sector yield incremental contracting opportunities, expect SXC to win a significant amount of new business over the next several years."

FY13 EPS goes from $2.19 to $2.34.

For an analyst ratings summary and ratings history on SXC Health Solutions click here. For more ratings news on SXC Health Solutions click here.

Shares of SXC Health Solutions closed at $61.80 yesterday.

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