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Fly News Breaks for December 20, 2018
INOV
Dec 20, 2018 | 07:38 EDT
As previously reported, Morgan Stanley analyst Ricky Goldwasser upgraded Inovalon to Equal Weight from Underweight, stating that its now-completed transition to a subscription-based model gives the company more visibility and a path to deliver accelerated organic growth. However, he is not raising his rating to Overweight as he believes the company's net debt to EBITDA ratio of 3.9x will limit its ability to pursue incremental M&A to augment top-line growth. He raised his price target on Inovalon shares to $13 from $10.
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