UPDATE: Piper Sandler Starts Innovage Holding Corp (INNV) at Overweight
- World stocks edge back, bond yields, COVID-19 cases rise
- Canadian National (CNI) Plans to Make $30B Topping Bid for Kansas City Southern (KSU) - DJ
- Analysts Positive, Raise PTs as IBM (IBM) Tops Market Estimates and Reaffirms Guidance
- Oil hits $68 on Libya force majeure despite pandemic surge
Piper Sandler analyst Chris Neamonitis initiates coverage on Innovage Holding Corp (NASDAQ: INNV) with an Overweight rating and a price target of $31.00.
The analyst commented, "Initiating INNV with Overweight on strong fundamentals that build upon themes in today’s healthcare delivery landscape, incl. revenues from direct contracting. InnovAge represents an aligned integration of Medicare & Medicaid resources, and has embraced being a “payvider” long before trend emergence. The $200B PACE market has historically suffered from an undue micro-awareness, leading to under-penetration of what we believe can be a shining example of care coordination for the medically/socially complex. INNV generates better outcomes, $ savings, and alleviates the navigation burden for participants + families. We believe INNV can be a catalyst for PACE; incremental to the immediate TAM, we see meaningful opportunity for INNV to broaden the scope of the populations that it serves."
Shares of Innovage Holding Corp closed at $24.35 yesterday.
You May Also Be Interested In
- UPDATE: BofA Securities Reinstates Zoom Video (ZM) at Buy
- UPDATE: Northland Capital Markets Starts Brainsway (BWAY) at Outperform
- Coca-Cola (KO) Recovery Slow but Steady, RBC Capital Reiterates Buy