Multiplan Co. (MPLN) PT Lowered to $10 at Citi

Citi analyst Daniel Grosslight lowered the price target on Multiplan Co. (NYSE: MPLN) to $10.00 (from $17.20) while maintaining a Neutral rating.

The analyst comments "As previously announced, today MPLN’s 1-for-40 reverse stock split went into effect. We are adjusting our model and target price to adjust for the reverse split. Except for per share items, our estimates remain the same. Our new target price is $10, which still contemplates an ~8x multiple on our FY25 adj. EBITDA estimates."

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