BofA analyst Allen Lutz raised the firm’s price target on Waystar (WAY) to $52 from $49 and keeps a Buy rating on the shares after the company reported revenue, EBITDA, and EPS growth that exceeded Street expectations. Waystar’s strong EBITDA-to-free cash flow conversion is allowing the company to acquire AI capabilities and invest internally, which should act to further differentiate the company from venture backed start-ups as well as incumbents, the analyst tells investors.
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