Agilon Health downgraded to Neutral from Buy at Citi

Citi downgraded Agilon Health (AGL) to Neutral from Buy with a price target of $1, down from $3 after its Q2 results and pulled guidance. The company’s Q2 earnings miss was largely driven by limited risk scoring visibility, concentrated in two payors, the analyst tells investors in a research note. Citi adds that the firm had caught-up with the management this afternoon, noting that while the conversation offered confidence that the issues AGL experienced are not structural, AGL’s visibility remains limited, which will keep the shares range-bound in the near term.