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Fly News Breaks for April 29, 2016
HMSY
Apr 29, 2016 | 07:42 EDT
As previously reported, Oppenheimer upgraded HMS Holdings to Outperform from Perform after the company announced that Public Consulting Group had settled with HMS Holdings to resolve all pending cases against each other. As part of the settlement, analyst Mohan Naidu says Public Consulting Group will cease to compete in Third Party Liability services for a period of seven years, virtually eliminating any serious competition for HMS Holdings and removing the risk from state contracts, which represent more than 40% of revenues. Naidu has a $21 price target on HMS Holdings' shares.
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