Alignment Healthcare price target lowered to $9 from $11 at Stifel

Stifel lowered the firm’s price target on Alignment Healthcare to $9 from $11 and keeps a Buy rating on the shares ahead of the company reporting Q1 earnings on Thursday, May 2. Alignment has beaten the top end of its revenue guidance every quarter since it went public in 2021, with the lowest beat versus the midpoint of the guide at 180 basis points, notes the analyst, who is estimating Q1 revenue of $609M, or 240 basis points above the midpoint of the company’s guidance range.