Jefferies analyst Brian Tanquilut downgraded Cross Country Healthcare to Hold from Buy with a price target of $21, down from $32. The analyst says Cross Country’s reported Q3 and go-forward outlook, along with the firm’s demand and bill rate data, highlight how Q4 and fiscal 2024 expectations for the nursing staffers are too high. The firm says the soft demand and bill rate outlook are likely to impact Q1 of 2024 as well.
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Read More on CCRN:
- Cross Country Healthcare price target lowered to $24 from $31 at Benchmark
- Cross Country Healthcare sees Q4 adjusted EPS 25c-35c, consensus 45c
- Cross Country Healthcare reports Q3 adjusted EPS 39c, consensus 41c
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- Cross Country Healthcare price target lowered to $32 from $40 at Jefferies