Analyst David Larsen of BTIG maintained a Buy rating on Astrana Health (ASTH – Research Report), with a price target of $70.00.
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David Larsen’s rating is based on Astrana Health’s strong performance and strategic initiatives. Despite slightly missing revenue expectations for the first quarter, the company maintained its annual guidance, indicating confidence in achieving its financial targets. The management’s focus on expanding membership, improving care quality, and operational efficiency through value-based care efforts is noteworthy.
Additionally, Astrana Health’s ability to manage claims costs effectively and its strategic partnerships with physicians position it well in the market. The ongoing integration of CHS and the anticipated completion of the Prospect Medical deal, which is expected to significantly boost revenue and EBITDA, further support the positive outlook. These factors, combined with the company’s proactive approach to managing medical trends and risks, contribute to the Buy rating.