RBC starts Privia Health with an Outperform, $36 price target

As previously reported, RBC Capital analyst Sean Dodge initiated coverage of Privia Health with an Outperform rating and $36 price target. The company’s "capital-light" physician-enablement model makes it "currently and comfortably" free cash flow positive and works with all types of providers and patient-types, which differs from others in the space, the firm noted. The firm is seeing "encouraging evidence" that the broader shift to value is accelerating, which it sees supporting management’s long-term guidance for 20% topline and 30% EBITDA growth, RBC added.