TD Cowen analyst Ryan Langston maintained a Buy rating on Privia Health Group (PRVA – Research Report) today and set a price target of $30.00.
Ryan Langston has given his Buy rating due to a combination of factors, including Privia Health Group’s strong financial performance and promising future outlook. The company reported impressive fourth-quarter results for 2024, with revenues and adjusted EBITDA surpassing market expectations. Additionally, the guidance for 2025 suggests further growth, with an anticipated increase in adjusted EBITDA and improved margins.
Privia Health Group’s financial stability is further reinforced by its substantial cash reserves and lack of debt, providing the company with significant flexibility. The firm is expected to maintain its capital-efficient model, ensuring a high conversion rate of free cash flow from adjusted EBITDA. Moreover, the company is strategically positioned for growth, with a robust business development pipeline and a commitment to disciplined expansion. These factors collectively support the raised price target and the Buy rating for Privia Health Group’s stock.