Astrana Health, Inc (ASTH) PT Raised to $67 at Baird

Baird analyst Michael Ha raised the price target on Astrana Health, Inc (NASDAQ: ASTH) to $67.00 (from $54.00) while maintaining a Outperform rating.

The analyst commented: "Astrana (Top Pick) is grossly undervalued and on the precipice of unlocking a wealth of growth. Story is simple: we estimate full-risk conversion of most of its ~1m members can
drive ASTH to at least +24% Revenue and +21% adj. EBITDA three-year CAGR (from this lever alone). With full claims delegation, ASTH has unique visibility into member profitability helping to de-risk this opportunity. Trading at ~30% discount to PRVA but nearly 2x EBITDA and a path to unlocking greater growth, we believe the ASTH pitch is simple and the upside is attractive."

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