R1 RCM upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Craig Hettenbach upgraded R1 RCM to Overweight from Equal Weight with a price target of $17, down from $17.50. The “pendulum in sentiment has swung far too negative,” providing an entry point in the stock, the analyst tells investors in a research note. The firm views R1 as an industry leader possessing the scale and capabilities to capture durable double-digit growth in revenue cycle management. The key for multiple expansion is improved execution on the core business, it adds.