Health Catalyst just upgraded at JPMorgan, here’s why

JPMorgan upgraded Health Catalyst to Overweight from Neutral with a price target of $11, down from $14. The analyst says the stock’s valuation is not reflective of the company’s earnings potential. While the macro backdrop remains challenging for Health Catalyst as hospital systems continue to face budgetary constraints, JPMorgan’s model fully reflects the downside in the near-term, the analyst tells investors in a research note. The firm says the management team has a history of consistency, which gives it “some comfort in the targeted margin profile.”