The Fly

Cano Health could be worth $14 per share in buyout, says Citi

Cano Health (CANO) shares were up over 30% yesterday on reports suggesting Humana (HUM), CVS Health (CVS) and other unnamed entities are looking to make a bid for the company, which could potentially come to fruition in the coming weeks, Citi analyst Jason Cassorla tells investors in a research note. The analyst believes there is strategic value in owning Cano given its focus on the Medicare Advantage population. He has not factored a takeout premium into Citi’s price target, but notes that peer deals and current comps suggest a takeout multiple in the two-times revenue zone, or a buyout price of $14 per share. Cassorla keeps a Buy rating on Cano with a $7 price target.

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on CANO:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More
Videos