Stifel initiated coverage of Alignment Healthcare with a Buy rating and $11 price target. Alignment has a large $450B total addressable market and has only penetrated under 1% of that potential market, the analyst tells investors in a research note. Alignment is targeting long-term annual growth of 20%, and Stifel expects growth well above that in the medium-term of 36% in 2024 and 28% in 2025.
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