Piper Sandler upgraded Health Catalyst to Overweight from Neutral with a price target of $11, down from $12, following the “solid” Q3 report. The hospital end market is convalescing and management expressed confidence in the pipeline, the analyst tells investors in a research note. The firm believes Health Catalyst has an “interesting opportunity” to lead with TEMS to secure new DOS relationships starting in fiscal 2024 and is optimistic about the potential for TEMS to drive incremental EBITDA dollars as contracts mature in the five years post launch.
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Read More on HCAT:
- Health Catalyst to Participate in Upcoming Investor Conference
- Health Catalyst price target lowered to $11 from $14 at Canaccord
- Health Catalyst sees FY23 revenue $291M-$296M, consensus $293.78M
- Health Catalyst sees Q4 revenue $70.1M-$75.1M, consensus $73.96M
- Health Catalyst reports Q3 EPS (39c), may not compare to consensus (2c)