Evercore ISI analyst Elizabeth Anderson downgraded R1 RCM to In Line from Outperform with a price target of $16, up from $12. In terms of 2024 guidance, the firm says management “laid out a reasonable outlook,” though the firm is lowering its estimates to reflect this update as well as removing Sutter Phase 2 from its estimates going forward until there is clarity on the form of the go-forward agreement. The firm is moving to the sidelines as it sees the step-up in valuation “creating a fair risk/reward profile,” the analyst tells investors.
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