Cross Country Healthcare price target lowered to $16 from $20 at BofA

BofA lowered the firm’s price target on Cross Country Healthcare (CCRN) to $16 from $20 and keeps an Underperform rating on the shares. Cross Country reported Q4 adjusted EBITDA 1% below consensus while Q1 guidance came in “well below consensus (again),” with revenue 6% below consensus and adjusted EBITDA 29% below the consensus view, the analyst tells investors. With peer AMN Healthcare (AMN) also guiding down Q1, it is still unclear when demand will bottom, says the firm, which is lowering its estimates.