Stifel lowered the firm’s price target on DocGo to $8 from $11 and keeps a Buy rating on the shares. Politico reported that the Department of Housing & Preservation Development is transitioning management of its New York City Metro area sites to another vendor and that sites outside the NYC metro area would be put out to competitive bids. The contract has been highly politicized and an overhang, the analyst tells investors in a research note, adding that the firm views its conclusion as a longer-term positive.
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