UPDATE: Oppenheimer Lowers PT on MedAssets Inc

Oppenheimer has published a report on MedAssets Inc MDAS reviewing the second quarter and lowering the PT from $21 to $20. In the report, Oppenheimer wrote, "MedAssets reported better than expected results, primarily on the early recognitionof RCM incentive fees. As has been widely anticipated, management lowered its full-year revenue guidance but maintained the midpoint of its EPS expectation. With the shares down 5% entering the call and 25% since reporting 1Q11, we believe the market priced in both an EPS and revenue revision to guidance. Since the company continues to expect incentive fees and guarantee revenue to be recognized, it was able to essentially maintain its EPS guidance." Oppenheimer rated MedAssets an Outperform with a price target lowered from $21.00 to $20.00. MedAssets closed Monday at $12.00.