UPDATE: Goldman Sachs Raises PT on ExamWorks Group to $22 (EXAM)

Goldman Sachs is out with its report on ExamWorks Group (NYSE: EXAM), raising its PT from $21 to $22.

In its report sent to clients, Goldman Sachs states, "We see a balanced risk/reward profile supporting our Neutral view on EXAM shares. We expect the MES acquisition to test the strength of subsidiaries' brands in staving off revenue cannibalization in markets where new acquisitions have geographic overlap with existing ExamWorks companies. Reflecting our raised EBITDA forecast, we raise our six-month price target to $22 (from $21) computed via 10X EV/EBITDA (34%), 20X P/E (34%), DCF (17%), and an M&A value (15%)."

At the time of posting, shares of EXAM were trading at $23.62, up 0.90% from Thursday's close.