Waystar price target raised to $42 from $36 at Canaccord

Canaccord raised the firm’s price target on Waystar (WAY) to $42 from $36 and keeps a Buy rating on the shares. The firm noted after two years of underperformance compared to the rest of the market, the clouds of uncertainty for healthcare stocks are likely to remain with a changing administration and control of Congress in January. Canaccord said although a higher uninsured population is negative for providers and could soften volumes and increase bad debt, Waystar could offset this with higher payment plan activity and help with improved collection efficiency, while also benefiting from cybersecurity vendor replacement trends.