Alignment Healthcare should be bought on recent selloff, says Baird

Baird recommends buying shares of Alignment Healthcare (ALHC) on the recent pullback. The firm believes the company’s fundamentals remain intact. The shares should perform well as investors return from the holiday season, the analyst tells investors in a research note. Baird says the Medicare Advantage trade “is on” and that Alignment is the “best way to play it.” It sees no reason for the recent selloff and keeps an Outperform rating on the shares with a $22 price target