Goldman Sachs Downgrades Accretive Health (AH) to Neutral On Contract Loss

Goldman Sachs downgraded Accretive Health (NYSE: AH) from Buy to Neutral with a price target of $24 (down from $31), saying the recent Fairview contract loss will likely to remain an overhang.

"We see the recent Fairview contract loss as placing an overhang on shares given continued execution challenges, limited visibility into related contract attrition/delays, and lower-than-expected barriers for customer switching," the analyst said.

Goldman lowered FY12 EPS from $0.64 to $0.56, FY13 from $1.06 to $0.90 and FY14 from $1.46 to $1.26.

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

Shares of Accretive Health closed at $20.00 yesterday.

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