Piper Sandler lowered the firm’s price target on MultiPlan (MPLN) to $10 from $40 and keeps a Neutral rating on the shares. The firm notes the company lowered 2024 guidance on an in-line Q3 print. Piper expects attrition to undermine revenue growth in 2025 and does not believe fundamentals justify investment given the regulatory, competitive and liquidity risks.
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