Canaccord analyst Richard Close lowered the firm’s price target on DocGo to $9 from $10 and keeps a Buy rating on the shares. The firm said they would be buyers of the stock with the HPD overhang now having a defined timeline to move to the rearview mirror and they updated their estimates following news that DocGo’s migrant services contract with NYC’s HPD is expected to begin winding down after May 5.
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Read More on DCGO:
- DocGo’s Subsidiary Renews NYC Asylum Seeker Support Contract
- DocGo price target lowered to $8 from $11 at Stifel
- NYC Mayor Adams won’t renew contract with DocGo, Politico reports
- DocGo CFO bought 10,000 shares at $3.61 per share on March 14
- DocGo enters 10b5-1 trading plan for additional $10M stock repurchase program
