GoHealth Inc. (GOCO) PT Lowered to $18 at Credit Suisse After Earnings
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Credit Suisse analyst Jailendra Singh lowered the price target on GoHealth Inc. (NASDAQ: GOCO) to $18.00 (from $19.00) after the company reported 1Q21 revs of $204.2 mln, up 45% Y/Y. 1Q21 adjusted EBITDA was $32 mln, down 8% Y/Y. For the full year, GOCO sees LTVs up in HSD range with the Y/Y growth moderating in 2H. GOCO also emphasized that its 2019 vintages are operating within its expectations.
The analyst reiterated an Outperform rating, stating "Our updated 2021/2022 revenues estimates are $1.23/$1.57 bln (vs. $1.21/$1.61 bln, respectively). Our TP is now $18 (vs. $19 previously), based on 12.5x our 2022 EBITDA (4x our 2022 rev ests). Risks include slowdown in members enrollment, decline in persistency trends, etc.."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCredit Suisse, Earnings
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