Canaccord lowered the firm’s price target on Definitive Healthcare to $9 from $10 and keeps a Hold rating on the shares. The firm noted the company issued a press release saying CEO Robert Musslewhite has stepped down, management reaffirmed its previously issued guidance for Q4/23, and the firm issued preliminary guidance for 2024. Canaccord said the company remains a high-quality data asset, and they believe there’s a path to faster growth in the future, but until they see signs of that playing out, they will remain on the sidelines.
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Read More on DH:
- Definitive Healthcare Announces CEO Transition
- Canaccord downgrades Definitive Healthcare on third workforce reduction
- Definitive Healthcare downgraded to Hold from Buy at Canaccord
- Definitive Healthcare drops after cutting 154 jobs in restructuring
- Definitive Healthcare price target raised to $10 from $7 at Barclays
