TD Cowen said after reviewing the claims made in yesterday’s short report on R1 RCM, they believe the report makes inferences based on issues that are easily explainable. Importantly Cowen doesn’t believe the company will miss 3Q23 estimates. due to lower incentive fees and they expect the company will address many of the issues when they report 3Q in early November. TD Cowen views the reaction as overblown and believes this presents a buying opportunity while reiterating its Outperform rating and $26 price target on R1 RCM shares.
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Read More on RCM:
- R1 RCM to Release Third Quarter 2023 Results on November 2
- Stephens keeps Overweight on R1 RCM as stock underperforms after short report
- Jehoshaphat Research short R1 RCM, says stock ‘practically uninvestible’
- R1 RCM down 4% in early trading after Jehoshaphat short call
- R1 RCM named a short idea at Jehoshaphat Research
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