BrightSpring Health price target raised to $65 from $55 at BTIG

BTIG raised the firm’s price target on BrightSpring Health (BTSG) to $65 from $55 and keeps a Buy rating on the shares after its Q1 earnings beat. While some investors may have been concerned about sources of upside relative to consensus expectations, results this quarter indicate that core performance in both Pharma and Provider are driving long-term, sustainable, high-quality value, the analyst tells investors in a research note. The firm adds that the company’s balance sheet is excellent following the $811M in pre-tax cash proceeds of the Community Living divestiture.