UPDATE: Baird Downgrades 1Life Healthcare Inc. (ONEM) to Neutral

Baird analyst Vikram Kesavabhotla downgraded 1Life Healthcare Inc. (NASDAQ: ONEM) from Outperform to Neutral with a price target of $31.00.

The analyst comments "ONEM shares are down 18% (vs. S&P 500 +5%) since the announcement of the Iora transaction, which we largely attribute to investor scrutiny regarding the deal. While we continue to believe ONEM's model offers compelling long-term opportunities, we now see limited upside over the next twelve months (NTM) as we reassess the investment case. In particular, we point to overhangs from the Iora transaction persisting, a lack of catalysts, and an evolving valuation backdrop. We are lowering our pice target to $31 and moving to Neutral."

For an analyst ratings summary and ratings history on 1Life Healthcare Inc. click here. For more ratings news on 1Life Healthcare Inc. click here.

Shares of 1Life Healthcare Inc. closed at $28.66 yesterday.

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