Premier price target lowered to $19 from $21 at JPMorgan

JPMorgan analyst Anne Samuel lowered the firm’s price target on Premier to $19 from $21 and keeps a Neutral rating on the shares. The firm continues to recommend a selective approach in the healthcare technology and distribution group, favoring names “with underlying macro tailwinds in addition to company specific drivers.” The analyst views Premier’s ongoing $1B repurchase program and quarterly cash dividend as likely to provide support for the stock. However, the company’s fundamentals remain challenged due to higher administrative fee shares, lack of visibility due to the anticipated divestitures, and hospital budget constraints, the analyst tells investors in a research note.