UPDATE: Health Catalyst Inc. (HCAT) Initiated Equalweight t Wells Fargo (correction)

Wells Fargo analyst Stan Berenshteyn starts coverage on Health Catalyst Inc. (NASDAQ: HCAT) at Equalweight, PT $11.

The analyst comments "We're initiating coverage of Health Catalyst, Inc.; Equal Weight; $10 PT. 2023 is set to be a trough growth year for HCAT as it struggles to add sufficient new client wins to maintain its prior 20%+ revenue growth rate. Though we see relief to net dollar retention beyond 2023, new client adds are a hurdle likely to grow as HCAT gains deeper market penetration. With shares near their 52-week lows, our concerns appear to be largely priced in. We initiate at Equal Weight, as we see limited avenues for upside surprises to consensus estimates over the next 12-18 months."

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