Fly News Breaks for September 26, 2019
Sep 26, 2019 | 06:31 EDT
Barclays analyst Steve Valiquette lowered his price target for Premier to $40 from $46 but keeps an Overweight rating on the shares following yesterday's short report from Spruce Point. The analyst's understanding is that the company's hospital contract renewals are under negotiation, which he believes changes the "rules" of renewal. As such, the "deadline" of next week, which likely caused investor anxiety on Wednesday, no longer holds, Valiquette tells investors in a research note. Further, the overall concept of hospital group purchasing organizations contract renewal risk is not new for Premier, and it has been well understood by investors dating all the way back to the company's initial public offering, contends the analyst.
News For PINC From the Last 2 Days
Nov 19, 2019 | 08:18 EST
Meetings to be held in Montreal on November 19 and in Toronto on November 20 hosted by William Blair.