Truist analyst Jailendra Singh downgraded Agilon Health to Hold from Buy with a price target of $10, down from $23. The firm cites lower confidence in cohort margin ramps in the near-term as well as the long-term given the company’s update this morning where it lowered its 2023 outlook, issued 2024 guidance below consensus, and withdrew its 2026 outlook. “Downgrading the rating on a stock just a day after calling it out ‘One of the Preferred Names’ for 2024 is embarrassing to say the least,” the analyst admits to investors in the downgrade note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AGL:
- Agilon Health (NYSE:AGL) Craters after Slashing FY23 Forecast
- Agilon Health price target lowered by $19 at JPMorgan, here’s why
- Agilon Health just downgraded at Goldman Sachs, here’s why
- Agilon Health initiated with bullish view at JMP Securities, here’s why
- Agilon Health director buys $250K in common stock