Oscar Health initiated with an Outperform at Raymond James

Raymond James analyst John Ransom last night initiated coverage of Oscar Health with an Outperform rating and $20 price target. Oscar is a technology enabled and consumer oriented health insurance company, with a focus on the individual and small group markets, primarily selling health plans through the Health Insurance Exchange, the analyst tells investors in a research note. The analyst believes current share levels offer an attractive risk/reward as the new CEO will “help unlock embedded earnings power.”