Mednax remains ‘show-me’ story despite upward bias, says Jefferies

Jefferies analyst Brian Tanquilut expects Mednax shares “to see upward bias” in the near term as management executes on its $500M share repurchase authorization. The analyst, however, keeps a Hold rating on Mednax and raised his price target for the shares to $50 from $48. The company is currently a “show-me” story, specifically as it relates to management’s cost-cutting targets, Tanquilut tells investors in a research note. He views the stock’s current valuation as fair.

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