UPDATE: Credit Suisse Starts Cano Health (CANO) at Outperform

August 2, 2021 1:48 AM EDT
Get Alerts CANO Hot Sheet
Price: $14.10 +0.28%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 10 | New: 35
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(Updated - August 2, 2021 4:23 AM EDT)

Credit Suisse analyst Jailendra Singh initiates coverage on Cano Health (NYSE: CANO) with a Outperform rating and a price target of $18.00.

The analyst comments "Over the next 12-18 months, as CANO expands into additional geographies and meets/exceeds its projections (which currently do not include any contribution from the Direct Contracting program and any incremental M&A), we expect the shares to at least partially close the valuation gap to peers and trade at 3.0x our 2023 revenue estimate (or ~4.1x 2022) 12 months from now, yielding an $18 TP (~67% upside potential) and thus an Outperform rating. Risks include geographic & payer concentration, competition, and significant capital investments."

For an analyst ratings summary and ratings history on Cano Health click here. For more ratings news on Cano Health click here.

Shares of Cano Health closed at $10.75 yesterday.


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