R1 RCM price target raised to $19 from $17.50 at BofA

BofA analyst Michael Cherny raised the firm’s price target on R1 RCM to $19 from $17.50 and keeps a Buy rating on the shares after having hosted investor meetings with R1 RCM management. The focus at a high level centered on FY23 guidance and long-term targets, notes the firm, which adds that RCM did not give details on the upcoming calendar Q1 results. Following the meetings, the firm raised its target multiple to account for greater confidence in numbers and group multiple expansion.