UPDATE: Cowen Upgrades Clover Health (CLOV) to Market Perform

Cowen analyst Gary Taylor upgraded Clover Health (NASDAQ: CLOV) from Underperform to Market Perform with a price target of $3.00 (from $7.00).

The analyst comments "CLOV has declined ~70% since completing a SPAC merger on 1/7/2021, materially underperforming the market, our coverage universe & even the small cohort of emerging payors (ALHC, BHG, OSCR). We are upgrading the shares to Market Perform as we believe most negative near-term catalysts are reflected in the share price. We remain concerned regarding intermediate liquidity and long-term profitability."

For an analyst ratings summary and ratings history on Clover Health click here. For more ratings news on Clover Health click here.

Shares of Clover Health closed at $2.79 yesterday.

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