Deutsche Bank lowered the firm’s price target on ModivCare (MODV) to $18 from $26 and keeps a Buy rating on the shares following the Q3 report. While there were some puts and takes around receivables, Deutsche retains some cautiousness around the frequency of one-off delays in payor true ups and receivables growing faster then revenue, the analyst tells investors in a research note.
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Read More on MODV:
- Modivcare Inc. Faces Financial Uncertainty Amid Extended Payor Delays and Liquidity Concerns
- Modivcare Inc. Reports Q3 2024 Financial Results
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- ModivCare backs FY24 revenue view $2.7B-$2.9B, consensus $2.82B
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