Piper Sandler downgrades Health Catalyst to 'neutral' rating

Health Catalyst

13/09/2022 10:05

** Piper Sandler downgrades healthcare tech firm Health
Catalyst  HCAT.O  to "neutral" from "overweight"
    ** Broker believes co's enterprise data operating 
infrastructure may require an overhaul and several quarters of
investment to remain competitive 
    ** "We think the path to re-accelerating revenue growth
could be more arduous than consensus estimates currently imply"
- Piper
    ** Broker almost halves price target to $11 from $21
    ** 13 of 15 brokerages rate the stock "buy" or higher and
two "hold"; their median PT is $18.50 - Refinitiv
    ** Shares down about 71% so far this year

 (Reporting by Subhadeep Chakravarty in Bengaluru)
 ((subhadeep.chakravarty@thomsonreuters.com))