Bright Health downgraded to Underweight from Overweight at Barclays

Barclays analyst Steve Valiquette downgraded Bright Health to Underweight from Overweight with a price target of $8, up from $4. The firm sees heightened liquidity risk as the company attempts to sell its MA business to bolster liquidity positioning, while also navigating a number of major strategic shifts in the overall business model, including new industry signs of additional pressure on Medicare MLR in Q2, the analyst tells investors in a research note. Barclays does not see the company achieving positive EBITDA until 2025.