Analyst Erin Wright from Morgan Stanley maintained a Buy rating on BrightSpring Health Services, Inc. and keeping the price target at $25.00.
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Erin Wright has given his Buy rating due to a combination of factors that highlight BrightSpring Health Services’ strong market position and growth potential. The company has shown impressive momentum in its Pharmacy Solutions segment, particularly in Specialty and Infusion services, which have consistently driven significant revenue growth. The Specialty scripts have seen a substantial increase, supported by a robust portfolio of Limited Distribution Drugs and anticipated new launches, indicating a promising trajectory for the company.
Additionally, BrightSpring’s strategic focus on home health, despite some challenges with reimbursement rates, positions it well for future expansion. The company’s confidence in managing potential impacts from policy changes, such as the IRA price adjustments, further underscores its resilience. With increased EBITDA estimates for the coming years, Erin Wright is optimistic about BrightSpring’s ability to maintain its growth momentum and deliver strong financial performance, justifying the Buy rating.
In another report released on August 7, TD Cowen also maintained a Buy rating on the stock with a $41.00 price target.