Astrana Health initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Astrana Health with a Buy rating and $66 price target In a “complex and difficult” value-based care operating environment, Astrana has achieved double-digit year-over-year revenue and EBITDA growth while generating positive free cash flow, the analyst tells investors in a research note. The firm expects the company to continue converting enrollees from partial to full risk while progressing its acquisition strategy and expanding into new geographies.