Privia Health initiated with an Overweight at Stephens

Stephens analyst Jeff Garro initiated coverage of Privia Health with an Overweight rating and $33 price target. Privia is leveraged towards the shift to value-based care, but offers a value proposition across multiple reimbursement types given a "flexible and differentiated model that allows doctors to focus on practicing medicine," the analyst tells investors. Investors can "cut through the complexity" inherent in its model by focusing on Privia’s success growing the number of providers to its platform and increasing adjusted EBITDA per provider significantly in recent years, Stephens argues.