Stephens lowered the firm’s price target on Privia Health to $27 from $32 and keeps an Overweight rating on the shares. The firm’s data analysis of providers on the company’s platform and the weaker healthcare utilization data points in Q3 has left the firm cautious leading into the company’s upcoming results, the analyst tells investors. Further, the firm has some caution around the consensus revenue growth expectations for 2024. Stephens believes the company is executing well on its long-term strategy, but the firm has near-term concerns around implemented provider count and 2024 concerns around capitated MA growth.
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