BTIG cuts Privia Health on market entry costs

Privia Health

09/01/2023 14:19

** BTIG cuts PT for physican-enablement platform Privia
Health Group Inc  PRVA.O  to $40 from $45; maintains 'buy'
rating 
    ** Brokerage reduces PRVA's 2023 EBITDA est on account of
co's entry into the North Carolina and Ohio markets 
    ** Says market entry costs are ~$3 mln per market 
    ** Says 2022 vols for primary care physicians and hospitals
were low as a result of COVID, but that PRVA gave no indications
of volumes significantly exceeding 2023 est 
    ** YTD, the stock is down ~5%, as of last close 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))