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Fly Intel: Top five analyst initiations » 09:5807/1907/19/21
DOCS, BHG, SQSP, WIX, SCHN
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Doximity (DOCS) initiated with a Buy at Canaccord, an Overweight at Piper Sandler and JPMorgan, an Outperform at SVB Leerink, William Blair and Raymond James, initiated with a Neutral at Goldman Sachs and an Equal Weight at Morgan Stanley. 2. Bright Health (BHG) initiated with a Buy at Goldman Sachs, an Overweight at Piper Sandler, an Outperform at RBC Capital, a Neutral at Citi and JPMorgan, initiated with a Peer Perform at Wolfe Research and an Equal Weight at Morgan Stanley. 3. Squarespace (SQSP) initiated with a Buy at BofA. 4. Wix.com (WIX) initiated with an Overweight at Morgan Stanley. 5. Schnitzer Steel (SCHN) initiated with an Outperform at Northland. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Bright Health initiated with a Neutral at JPMorgan » 08:1607/1907/19/21
JPMorgan analyst Lisa…
JPMorgan analyst Lisa Gill initiated coverage of Bright Health Group with a Neutral rating and $19 price target. The analyst thinks Bright Health presents a "unique opportunity" to gain exposure to attractive managed care markets while also playing the shift towards value-based care. However, the majority of the company's membership and revenue is derived from the individual and family plan business, which presents greater risk compared to the more diversified managed care names, says the analyst.
Bright Health initiated with an Equal Weight at Morgan Stanley » 07:1407/1907/19/21
Morgan Stanley analyst…
Morgan Stanley analyst Ricky Goldwasser initiated coverage of Bright Health with an Equal Weight rating and $18 price target. Though she likes the model that integrates managed care with care delivery, Bright has quadrupled its membership over the last 18 months and she is concerned that the risk of high utilization by recently acquired member populations, coupled with its low-price strategy in some markets, could drive up medical loss ratios, Goldwasser tells investors. While concerns about MLRs and utilization keep her on the sidelines for now, she could turn more positive in the event of favorable developments, the analyst noted.
Bright Health initiated with a Peer Perform at Wolfe Research » 06:4907/1907/19/21
Wolfe Research analyst…
Wolfe Research analyst Justin Lake initiated coverage of Bright Health with a Peer Perform rating and $15 price target. Bright Health has "laid out one of the most expansive strategic agendas in all of healthcare services" with a mission of building an integrated managed care organization and provider platform from the ground up, Lake tells investors.
Bright Health initiated with a Neutral at Citi » 06:0007/1907/19/21
Citi analyst Ralph…
Citi analyst Ralph Giacobbe initiated coverage of Bright Health Group with a Neutral rating and $16 price target. The analyst is optimistic around the company's long-term prospects but takes a "more reserved" near-term view. He wants comfort in Bright Health's cost trends after "hefty" enrollment growth this year, and clarity on its competitive positioning for next year.
Bright Health initiated with an Outperform at RBC Capital » 05:3807/1907/19/21
RBC Capital analyst Frank…
RBC Capital analyst Frank Morgan initiated coverage of Bright Health Group with an Outperform rating and $22 price target. The analyst believes Bright Health's alignment model represents the best approach to control healthcare inflation while also improving health outcomes.
Bright Health initiated with a Buy at Goldman Sachs » 05:1107/1907/19/21
Goldman Sachs analyst…
Goldman Sachs analyst Terence Flynn initiated coverage of Bright Health with a Buy rating and $36 price target. Bright Health is a "solidly run insurer with ambitious long term plans," Flynn tells investors in a research note. The analyst says the company is well positioned to continue to drive above peer growth in the coming years.
Bright Health initiated with an Overweight at Piper Sandler » 05:0407/1907/19/21
Piper Sandler analyst…
Piper Sandler analyst Jeff Garro initiated coverage of Bright Health with an Overweight rating and $24 price target. Bright Health is "rapidly growing" the payvider model to a national scale with a "repeatable playbook and favorable" unit economics, Garro tells investors in a research note. The anayst sees 30% annual organic revenue growth for the "foreseeable future."
Opening Day: Wahlberg-backed gym owner F45 opens higher in public debut » 07:5907/1707/17/21
BLND, IMGO, STVN, RGC, TCRX, ERAS, SGHT, MCG, RPID, CULL, FXLV, SERA, IINN, UNCY, MF, ELEV, TKNO, MCW, GRPH, GHRS, DOCS, CFLT, GLUE, BHG, GRVI, MIRO, BON, FA, CXM, DDL, QNIU, CMSL, SPRK, SCAN, VTEX, GAMB, DUOL, AUTH, RXST, HOOD, MS, GS, BCS, BAC
Mark Wahlberg-backed F45…
new option listings and one option delisting on July 14th » 08:3007/1407/14/21
AHAC, AKUS, BHG, CATH, CGW, EELV, FULC, GLTO, GSBD, GSL, KNTE, MASS, MFNC, MORF, MOSY, MTCR, OCG, ONDS, ONVO, RNA, SACH, STKS, TWND, UP, WTT, XLG, ASPL
New option listings for…
New option listings for July 14th include Alpha Healthcare Acquisition Corporation (Class A Stock) (AHAC), Akouos Inc (AKUS), Bright Health Group Inc (BHG), Global X S&P 500 Catholic Values (CATH), Guggenheim S&P Global Water Index (CGW), PowerShares Emerging Markets (EELV), Guggenheim S&P 500 Equal Weight Real Estate ETF (EWRE), First Trust REIT Index (FRI), Fulcrum Therapeutics Inc (FULC), Galecto Inc (GLTO), Goldman Sachs BDC (GSBD), Global Ship Lease (GSL), JPMorgan Ultra Short Municipal Income ETF (JMST), Kinnate Biopharma Inc (KNTE), 908 Devices Inc (MASS), Mackinac Financial (MFNC), Morphic Holding Inc (MORF), MoSys (MOSY), Metacrine Inc (MTCR), Oriental Culture Holdings Ltd (OCG), Ondas Holdings Inc (ONDS), Organovo (ONVO), RevenueShares Ultra Dividend Fund (RDIV), Guggenheim S&P Midcap 400 Pure Value (RFV), Guggenheim S&P 500 Equal Weight Industrials (RGI), Avidity Biosciences Inc (RNA), Guggenheim S&P 500 Equal Weight Materials (RTM), Guggenheim S&P 500 Equal Weight Energy (RYE), Guggenheim S&P 500 Equal Weight Financials (RYF), Guggenheim S&P 500 Equal Weight Technology (RYT), Guggenheim S&P Smallcap 600 Pure Value ETF (RZV), Sachem Capital (SACH), Invesco S&P 500 GARP ETF (SPGP), PowerShares S&P 500 Value Portfolio (SPVU), ONE Group Hospitality (STKS), Tailwind Acquisition Corp (Class A Stock) (TWND), Wheels Up Experience Inc (Class A Stock) (UP), Vanguard S&P 500 Value (VOOV), Williams Industrial Services Group Inc (WLMS), Wireless Telecom Group Inc (WTT), Guggenheim Russell Top Mega Cap ETF (XLG), Invesco S&P MidCap Quality ETF (XMHQ), Invesco S&P MidCap Momentum ETF (XMMO), and Invesco S&P MidCap Value with Momentum ETF (XMVM). Option delistings effective July 14th include Aspirational Consumer Lifestyle Corp (Class A Stock) (ASPL).