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Agiliti downgraded to Equal Weight at Morgan Stanley ahead of transition year
The Fly

Agiliti downgraded to Equal Weight at Morgan Stanley ahead of transition year

As previously reported, Morgan Stanley analyst Drew Ranieri downgraded Agiliti to Equal Weight from Overweight with an $18 price target. He views FY23 as a "transition year" given that the company will lap prior pandemic-driven revenue and profitability benefits in Q1 and the company’s customer base will be shifting from pandemic-business to long-term contracts, Ranieri tells investors. He has lowered his revenue estimate for 2023 and believes that throughout the year investors will get a better sense of "true go-forward underlying business fundamentals," the analyst added.

Published first on TheFly

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