BTIG analyst David Larsen lowered the firm’s price target on DocGo to $7 from $11 but keeps a Buy rating on the shares after its Q1 results and guidance cut. The firm is adjusting its model after the departure of migrant related services contract with New York City Housing Preservation and Development and New York City Health and Hospitals. BTIG adds however that amid the negative headlines, the slowness in paying and the sheer resource drag on the business all make this temporary decline in revenue as being a l”onger-term positive”.
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