Analyst action also boosted shares of TriZetto Group (Nasdaq: TZIX), which gained 2 3/16 to 16 9/16 Wednesday after Lehman Brothers’ Robert Rouse rated the stock outperform in new coverage. Rouse expects the stock to reach $22 in a year.
The company, which provides e-commerce and other services to the healthcare industry, recently formed an e-business alliance with the Association of American Health Plans. Among other projects, the company will develop an Internet portal for the group, which represents more than 1,000 health maintenance organizations.
TriZetto shares, which traded as high as 91 1/4 in March, have fallen in recent months along with those of most Internet companies. Last month, TriZetto canceled plans to merge with IT company IMS Health and instead agreed to buy a unit of the company.