In a report published Friday, Morgan Stanley analyst Suzanne E. Stein reiterated an Overweight rating and $12.00 price target on Performant Financial PFMT.
In the report, Morgan Stanley noted, “The delay in the award of the RAC contract is causing significant disruption in Performant's healthcare results while changes to the Guaranty Agency fee structure will begin to negatively impact student lending results in 2H14. We think these issues are well understood by the market and are reflected in the stock price. As these uncertainties clear, particularly the award of the RAC contract, we see room for significant upside in the stock.
"Further, we believe revenue contribution from non-traditional sources, such as commercial healthcare customers, will become more material which will also help the recovery of the stock. We remain Overweight with a $12 price target.”
Performant Financial closed on Thursday at $8.82.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in