Bank of America Holds Steady On MDAS

Bank of America is maintaining its Buy rating and its $21 price target on MedAssets Inc. MDAS despite recent dips in share price for the company. In the report, Bank of America states, “MDAS' shares are off 8% over the past two weeks, underperforming a weak S&P 500 (-1%) on continuing concerns over the strength of its recent results and growth prospects. Continued insider selling has offered little solace. Sequentially stronger results and new business wins suggest to us the wheels are not coming off here, and on stronger cash flow generation in 2Q11, we believe the shares will rebound.” MDAS closed at $15.01 yesterday.