Premier downgraded to Neutral from Outperform at Baird

Baird downgraded Premier to Neutral from Outperform with a price target of $30, down from $43. The analyst "can’t look past" the company’s softening demand and waning adjacent market organic growth. Premier reported" another choppy, noisy, mishandled quarter and guidance cut," the analyst tells investors in a research note. The firm says the company’s "regional weakness" comments feel extreme in magnitude against broad-based positive ecosystem commentary elsewhere. It says the stock is "cheap for a reason."