Market Overview

UPDATE: Compass Point Initiates Performant Financial at Buy on Growth

Compass Point initiated coverage on Performant Financial (NASDAQ: PFMT) with a Buy rating and an $11 price target.

Compass Point commented, "We view Performant as an early-stage growth story: student lending leading indicators of originations, delinquencies, and defaults are all accelerating, while increasing Medicare spend creates a significant pipeline of error recovery volume. Regulatory and concentration risk remain, but we expect the company's steady performance and long-term relationships with the Department of Education (ED) and Centers for Medicare and Medicaid Services (CMS) bode well for the key upcoming contract renewals, setting the stage for meaningful placement growth for several years."

Performant Financial closed at $9.20 on Tuesday.

Latest Ratings for PFMT

DateFirmActionFromTo
Jun 2014SunTrust Robinson HumphreyMaintainsBuy
Feb 2014Credit SuisseDowngradesOutperformNeutral
Feb 2014Morgan StanleyMaintainsOverweight

View More Analyst Ratings for PFMT
View the Latest Analyst Ratings

Posted-In: Compass PointAnalyst Color Initiation Intraday Update Analyst Ratings

 

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