Privia Health price target lowered to $40 from $45 at BTIG

BTIG analyst David Larsen lowered the firm’s price target on Privia Health to $40 from $45 and keeps a Buy rating on the shares. The analyst is reducing his expected 2023 EBITDA estimate to account for the company’s entrance into North Carolina and Ohio, though he also believes that Privia tends to guide conservatively. While the stock has come under "significant pressure" over the past quarter, Larsen contends that Privia has one of the best value-based-care solutions in the market.