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Maximus rises after Citi starts coverage with Buy rating

Maximus (MMS), which provides outsourcing services to government health and human services agencies, is rising in early trading after Citigroup initiated research coverage of its stock with a Buy rating. In a note to investors this morning, Citi analyst James Naklicki said Maximus may be able to double its earnings over the next three years. The company can benefit as states continue moving fee for service Medicaid programs over to managed care, according to Naklicki, adding that Obamacare reforms will also create new growth opportunities for Maximus. Naklicki placed a $75.00 price target on the stock, which rose in early morning trading by 94c, or 1.49%, to $64.03.