Benchmark lowered the firm’s price target on Cross Country Healthcare to $24 from $31 and keeps a Buy rating on the shares following a Q3 AEBITDA miss and Q4 guidance that was below consensus. While management believes it can maintain high single digit AEBITDA margins in 2024 even without significant improvement in gross margin, the firm’s updated model assumes only modest improvement in 2024 from Q4 of 2023, the analyst tells investors.
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