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Fly News Breaks for October 31, 2019
PINC
Oct 31, 2019 | 06:21 EDT
UBS analyst Kevin Caliendo downgraded Premier to Neutral from Buy with a price target of $38, down from $44. The analyst notes that while the company should post in-line Q3 earnings next week, he is concerned with its "economics" as competitors offer a 70% payout ratio vs. Premier's 30%. Caliendo adds that he expects the company to renew its contracts with Yankee Alliance and the Greater New York Hospital Association, but re-contracting to competitive levels could reduce its total revenue by about 4%.
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