Morgan Stanley analyst Craig Hettenbach initiated coverage of R1 RCM with an Equal Weight rating and $11 price target. The analyst likes the company’s position and long-term opportunity in revenue cycle management. However, "disappointing" Q3 results were a "material setback" that could take a few quarters to recover from, Hettenbach tells investors in a research note. The analyst says execution under a new CEO, Cloudmed integration and performance of new contracts "are key for the shares."
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Published first on TheFly
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