GoHealth Inc. (GOCO) PT Lowered to $5 at RBC Capital

RBC Capital analyst Ben Hendrix lowered the price target on GoHealth Inc. (NASDAQ: GOCO) to $5.00 (from $12.00) while maintaining a Sector Perform rating.

The analyst commented: "As a follow-up to our November 13th Quick Take note, we are updating our model and providing additional commentary on the third quarter results. 3Q results came in significantly below expectations driven by topline weakness, which we believe was the result of one large MA carrier suspending its relationship with GOCO. While GOCO has near-term liquidity, we believe the company would need to reduce its cash burn over the next 12 months or potentially risk tripping minimum liquidity covenants. "

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