Cross Country Healthcare (CCRN) PT Raised to $18.61 at Truist Securities

Truist Securities analyst Tobey Sommer raised the price target on Cross Country Healthcare (NASDAQ: CCRN) to $18.61 (from $15.00) while maintaining a Hold rating.

The analyst comments "Cross Country Healthcare (CCRN, Hold) has agreed to be acquired by Aya Healthcare (Private) for $18.61 in cash, representing a ~67% premium to yesterday's close. The transaction is expected to close in 1H25 and we expect shareholders will approve the transaction. More broadly, we think this is an encouraging signal that the largest Healthcare Staffing company in the country (Aya had ~$9B in 2023 revenues) is seemingly confident enough demand declines are leveling off to make a sizeable acquisition. We are increasing our PT to $18.61 (to match Aya's bid) from $15."

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