Piper Sandler would be a buyer of Privia Health following CMS data

Piper Sandler analyst Jessica Tassan notes that the CMS has released 2023 MSSP ACO participation data. This data suggests that Privia Health entered the DE market on 1/1/2023 with anchor provider group, Beebe Physician Network. The analyst believes Beebe employs over 200 physicians and advance practice providers. Beebee joins Privia Quality Network Delaware, a re-entering ACO that will participate in the Enhanced Track of MSSP for 2023, Tassan adds. She would be a buyer of Privia Health on the news and sees upside to her Q1 Implemented Provider estimate, based on her complete assessment of the 2023 MSSP ACO participation data. Tassan reiterates an Overweight rating on the shares with a price target of $42.