Morgan Keegan Reiterates Outperform Rating on MedAssets (MDAS)

Morgan Keegan is out with a research report this afternoon, where it reiterates its Overweight rating on MedAssets MDAS; it has a $27.00 price target on the stock, up from $25.00. The MK analysts said that MDAS has assembled a unique portfolio of roughly 40 solutions that offer hospitals a significant and immediate return, while also providing MDAS with revenues that are 85-90% recurring. They added that they expect solid organic top-line growth from incremental penetration and significant cost synergies from the integration of acquisitions to drive strong EPS growth in 2011 and beyond. Their new price target of $27.00 suggests over 30% upside from current levels.