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Barclays upgrades Alignment to Equal Weight on reduced risk

Barclays upgraded Alignment Healthcare (ALHC) to Equal Weight from Underweight with a price target of $13, up from $9. The company’s solid Q2 report reduces the downside risk to earnings estimates this year, the analyst tells investors in a research note. However, the firm believes the stock’s valuation remains rich, limiting the upside side.

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