GoHealth Inc: Falls on quarterly revenue miss, brokerages cut PT

GoHealth

12/11/2020 14:22

** Online health insurance broker's shares  GOCO.O  down
9.5% at $12.1 premarket; Set for worst day in almost 3 months
    ** At least 3 brokerages cut PT after company late on
Wednesday reported Q3 revenue of $163.4 mln vs est $169.5 mln,
according to Refinitiv data  urn:newsml:reuters.com:*:nPn8N1pmSa
    ** GOCO expects 2020 net revenue of $850 mln-$890 mln vs est
$870.7 mln
    ** Cantor Fitzgerald believes the company is nicely
positioned to gain share in the large Medicare market over time;
However, cuts PT to $20 from $26
    ** Evercore ISI cuts PT to $25 from $27, Morgan Stanley cuts
PT to $14 from $18
    ** 10 of 11 brokerages rate the stock "buy" or higher, 1
"hold"; Median PT $19.50
    ** Up to Wednesday's close, shares down ~32% since GOCO's
IPO on July 15

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com))