UBS Starts Premier, Inc. (PINC) at Neutral
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UBS initiates coverage on Premier, Inc. (NASDAQ: PINC) with a Neutral rating and a price target of $32.50.
Analyst Michael Cherny commented, "We are initiative coverage on Premier with a Neutral rating and a $32.50 price target. Premier remains a key consolidator in the GPO market, leveraging its ownership model and expanding position in alternate site of care to drive above-market growth. This provides a base level of mid-single digit revenue generation that also is both visible and strong cash flow generating. However, the slowdown in Performance Services revenue and mix shift to low-margin specialty pharmacy limits profit upside, which we believe leaves a fair risk/reward balance at current levels."
Shares of Premier, Inc. closed at $31.87 yesterday.
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