HCAT - Health Catalyst upgraded at Wells Fargo on improving fundamentals
2023-04-04 10:41:26 ET
- Wells Fargo has upgraded Health Catalyst ( NASDAQ: HCAT ) to overweight from equalweight saying that it likes the current risk reward setup and sees improving fundamentals.
- It also increased its target price to $16 from $13 (~35% upside based on Monday's close).
- Shares are up ~4% in Tuesday morning trading.
- Analyst Stan Berenshteyn said that based on a survey the firm conducted, it believes that the improving fundamentals demonstrated by Health Catalyst are sustainable.
- However, he noted that the company faces downside risk. "Should HCAT continue to add clients at a high-single-digit percentage pace or lower, it could result in meaningful headwinds to top-line growth."
- Read why Seeking Alpha contributor Ryan Lickwinto recently initiated Health Catalyst ( HCAT ) with a buy.
For further details see:
Health Catalyst upgraded at Wells Fargo on improving fundamentals