Cantor Fitzgerald Starts HMS Holdings (HMSY) at Overweight

Cantor Fitzgerald initiates coverage on HMS Holdings (NASDAQ: HMSY) with a Overweight rating and a price target of $23.00.

Analyst Steven Halper said with COB likely to grow in the mid-single digit range and PI flat, HMSY is pivoting to care management and data analytics with two recent acquisitions. The firm has assumed accelerating top line growth in our 2018 estimates to reflect the transition.

"While there is some uncertainty regarding the transition, the risk/reward tradeoff is compelling, in our view, especially given the strong free cash generation associated with its legacy businesses," he added.

For an analyst ratings summary and ratings history on HMS Holdings click here. For more ratings news on HMS Holdings click here.

Shares of HMS Holdings closed at $19.15 yesterday.

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