Canaccord Genuity analyst Richard Close has maintained their bullish stance on LFST stock, giving a Buy rating today.
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Richard Close has given his Buy rating due to a combination of factors that highlight the strong performance and promising outlook of Lifestance Health Group. The company’s recent third-quarter results exceeded expectations, with revenue and adjusted EBITDA surpassing the high end of guidance, and center margins significantly above the mid-point. This performance has prompted an update in guidance, with raised expectations for center margin and adjusted EBITDA.
Additionally, Lifestance’s strategic initiatives, including technology adoption and productivity improvements, are yielding positive results. Clinician retention and recruitment have been robust, supported by a successful cash incentive program. The company’s technology enhancements have led to increased clinician productivity and patient engagement, as evidenced by record-high visits per clinician. Looking ahead, Lifestance anticipates continued growth, with expectations of low double-digit visit growth and margin improvements, reinforcing the potential for sustained financial performance. These factors collectively underpin Richard Close’s confident Buy rating for the stock.
In another report released today, UBS also maintained a Buy rating on the stock with a $10.00 price target.
LFST’s price has also changed slightly for the past six months – from $6.550 to $6.250, which is a -4.58% drop .