Breast reduction surgery by an experienced ABPS-certified plastic surgeon can indeed reduce AND lift your breasts in a straightforward outpatient operation. There are different breast reduction patterns that require different incisions and permanent scars, and there are pros and cons to each of them. Consultation with one or more plastic surgeons will give you the information you need to make an informed decision; review plenty of before and after photographs of each surgeon's actual patients, not just "general examples" that are not specifically each surgeon's own work. Don't be afraid to ask questions about scar placement and how various scar patterns affect the resultant breast shape.
Also, years of experience with women in the same position as you now are in make me give you the gentle advice of not going too small. Your weight loss is commendable and excellent, and still having large saggy breasts reminds you of being overweight. Once reduced, however, feeling like you have lost your womanly curves can make some women feel mastectomized, and they subsequently ask for implants to restore volume to their perky, but too-small, breasts. Please don't be overanxious and go too small!
Congratulations and breast wishes!