Guggenheim analyst Vikram Kesavabhotla upgraded HMS Holdings to Buy from Neutral with a $35 price target. The stock pullback since the August, accelerated by a disappointing Q3, overshadows the "favorable" long-term positioning of the core business, Kesavabhotla tells investors in a research note. While trends in Population Health Management are concerning, investor expectations have been appropriately reset and the Accent acquisition helps alleviate this risk, contends the analyst. He believes HMS shares now offer a "compelling" risk/reward profile.