As previously reported, Piper Sandler downgraded Alignment Healthcare to Neutral from Overweight with a price target of $6, down from $12, following mixed Q4 results where membership and revenue beat, but adjusted EBITDA missed the low end of guidance and consensus estimates. The firm appreciates Alignment’s competitive advantages, but relative positioning does not extinguish absolute risk. New member mix shift, utilization volatility, and v28 challenge the assumptions underlying the company’s 2024 MBR guide and may jeopardize its adjusted EBITDA breakeven timeline.
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Read More on ALHC:
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