Cowen Downgrades Accretive Health (ACHI) to Neutral

Cowen downgraded Accretive Health (OTC: ACHI) from Outperform to Neutral and removes their $9 price target.

Analyst Charles Rhyee commented, "ACHI announced it is reviewing strategic alternatives after Ascension bid on the company for 50% its market value and said it would not renew its master contract with ACHI upon expiration in August 2017. This comes as a surprise and upends one of our core underlying assumptions being a stabilizing customer base. With the thesis changed, we are downgrading shares to Market Perform."

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 $5.42 yesterday.

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