Analyst Ryan Langston from TD Cowen maintained a Buy rating on Privia Health Group (PRVA – Research Report) and keeping the price target at $30.00.
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Ryan Langston has given his Buy rating due to a combination of factors that highlight Privia Health Group’s strong financial performance and strategic growth initiatives. The company has exceeded expectations in adjusted EBITDA, with a significant improvement in general and administrative expenses, and has provided optimistic guidance for the fiscal year 2025. This positive outlook is supported by the company’s expansion into Arizona through the acquisition of the IMS physician group, which is expected to contribute positively to EBITDA by the fourth quarter of 2025.
Additionally, Privia Health Group maintains a robust cash position, allowing for potential further geographic expansion, which could enhance earnings. The company’s ability to target a 20% EBITDA growth despite the costs associated with entering new markets further supports the Buy rating. Langston’s valuation includes a price target of $30, based on a 2026 EV/EBITDA target, reflecting confidence in the company’s future performance and strategic direction.