Oppenheimer Maintains Outperform On MedAssets (MDAS)

Oppenheimer & Co. has a Outperform rating and a $21 price target on shares of MedAssets MDAS following earnings. In a note to investors, Oppenheimer writes, "MedAssets delivered a modest beat in 1Q11, albeit on fairly low expectations. The company's spend management unit continues to perform well, while RCM Services weighed on overall RCM results. Management maintained its FY11 guidance but provided more insight on the quarterly ramp. The company's guidance is heavily back-end weighted, due to the timing of new contract starts and incentive fee awards. We continue to believe the company's valuation only requires the company to achieve guidance in order for the shares to work higher." Shares of MDAS lost 7 cents yesterday to close at $16.00, a loss of 0.44%.