TruBridge Inc (TBRG) PT Raised to $28 at Stephens

Stephens analyst Jeff Garro raised the price target on TruBridge Inc (NASDAQ: TBRG) to $28.00 (from $23.00) while maintaining a Equal Weight rating.

The analyst commented: "TBRG delivered strong 4Q24 P&L results (+4% revenue beat translated to a +24% EBITDA beat due to offshoring success and benefits from 3Q24 cost-cutting efforts) as well improved FCF to close the year (reversing FY23's losses to 4% FY24 FCF margin). Bookings were weak (-40% y/y), but not as bad as they look with slipped deals getting captured in 1H25. FY25 guidance was favorable versus consensus, more so on profitability than revenue, and looks achievable with continued execution on retention and the gross margin benefits of successful Financial Health business segment offshoring. Overall execution clearly improved at TBRG in FY24, and unfortunately we have been on the sidelines for the stock roughly tripling over the last year. Nonetheless, we view the current risk-reward as balanced while we await the next data points on retention, bookings, and offshoring. Reiterate our EW rating while TP is revised up from $23 to $28."

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