UPDATE: Jefferies Raises PT on Catamaran Corp. on Bullish Outlook

In a report published Thursday, Jefferies analyst Brian Tanquilut reiterated a Buy rating on Catamaran Corp. (NASDAQ: CTRX) and raised the price target from $65.00 to $70.00.

In the report, Jefferies noted, “We have a bullish view on CTRX, especially now that all the overhangs on the name have been addressed and the company's robust LT growth outlook has been re-emphasized. With CTRX continuing to win new business, pursue accretive acquisitions, and realize margin expansion opportunities, we believe the stock is well-positioned to steadily appreciate to ~$70 over the next year.”

Catamaran Corp. closed on Wednesday at $57.87.