TD Cowen starts P3 Health Partners with a Market Perform, $3.50 price target

As previously reported, TD Cowen analyst Gary Taylor initiated coverage of P3 Health Partners with a Market Perform rating and $3.50 price target. P3 is primarily an affiliated-physician value-based care company that manages risk for Medicare Advantage, or MA, patients in five states. While stating that P3 senior management has “a successful track record,” the firm also notes that the company has materially missed financial targets since coming public in 2021 and includes a going concern risk in its most recent SEC filings.