FAII - SPAC Fortress Value Acquisition II a new buy at Benchmark ahead of planned deal with ATI Physical

SPAC Fortress Value Acquisition Corp. II (FAII) was rated a new buy at Benchmark with a price target of $14 ahead of its planned merger with ATI Physical Therapy.ATI Physical Therapy operates the the U.S.'s largest network of "single branded" physical therapy (PT) locations. Benchmark expects that outpatient PT is likely to benefit from healthcare trends such a shift to care outside hospitals and focus on "value-based" care.ATI likely to see "double digit" patient growth before M&A, Benchmark analyst Bill Sutherland wrote in note.FAII stock fell 13% the day the company announced deal to buy ATI Physical Therapy in February.

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SPAC Fortress Value Acquisition II a new buy at Benchmark ahead of planned deal with ATI Physical