Morgan Stanley analyst Craig Hettenbach lowered the firm’s price target on Definitive Healthcare to $5 from $9 and keeps an Equal Weight rating on the shares. Updated 2024 guidance bakes in a material slowdown in the second half and while a change in leadership represents a potential catalyst, the turnaround is likely to take time and could be further complicated by headwinds to Life Sciences spending, the analyst tells investors in a post-earnings note.
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