BTIG raised the firm’s price target on BrightSpring Health to $20 from $15 and keeps a Buy rating on the shares, saying the company is “well positioned” as the FTC has recently published a report that was critical of the PBMs, or prescription drug benefit managers. The Inflation Reduction Act – IRA – may cause manufacturers to focus more efforts on specialty medications in the near-term, and while net prices increases for Medicare may be limited to inflation under the IRA, overall prices across the board may actually rise at faster rates than expected in order to shift costs to Commercial plans, the analyst tells investors in a research note.
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