Health Catalyst downgraded to In Line at Evercore ISI

As previously reported, Evercore ISI analyst Elizabeth Anderson downgraded Health Catalyst to In Line from Outperform with a price target of $11, up from $10. Health Catalyst "remains a high-quality business," argues Anderson, but she sees two fundamental challenges to the business, namely continued hospital capital spending weakening and lower profitability than consensus calls for given relatively faster Professional Services revenue growth.