Maximus initiated with a Buy at Stifel

Stifel analyst Bert Subin initiated coverage of Maximus with a Buy rating and $102 price target. The stock has performed well both on a year-to-date and multi-year basis, and that strong performance can continue into FY24 as various catalysts – including growth in the company’s clinical practice, resumption of Medicaid redeterminations, student loan processing and improvement in the under-performing international segment – create solid earnings momentum and potential upside to consensus estimates, the analyst tells investors in a research note.