Definitive Healthcare Corp (DH) PT Raised to $10 at Deutsche Bank, 'shares are likely range bound'

Deutsche Bank analyst George Hill raised the price target on Definitive Healthcare Corp (NASDAQ: DH) to $10.00 (from $9.00) while maintaining a Hold rating.

The analyst comments "We maintain our Hold rating on DH shares and raise our price target modestly from $9 to $10, reflecting 18x our revised 2024 EBITDA estimate of $84.7mm. Our target multiple reflects the much slower growth expected over the near to medium term in both revenue and earnings while also rolling forward to 2024 estimates for valuation. Our target multiple is now closer to peer averages as we believe the company’s unique data assets and clear value proposition will enable it to regain higher growth once the economic environment improves. While we continue to see DH as having an attractive business, the shares are likely range bound until the company can break out of a narrow growth and earnings trajectory."

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