Waystar initiated with an Overweight at Barclays (yesterday)

Barclays analyst Stephanie Davis yesterday morning initiated coverage of Waystar with an Overweight rating and $24 price target. Waystar is a leading provider of clearinghouse, patient payments, and revenue cycle technology, the analyst told investors in a research note. The firm believes the company’s profile will differentiate Waystar from its health tech peer group, meriting a premium multiple that is only partially reflected in the stock’s current valuation.