UBS lowered the firm’s price target on CareMax to $6.40 from $7 and keeps a Neutral rating on the shares. CareMax reported Q4 adjusted EBITDA well below consensus estimates, with the miss partly driven by unfavorable prior year developments of $21M, as well as an additional $15M reserve for adverse deviation, the analyst tells investors in a research note. The company plans to explore its strategic options to generate liquidity, the firm adds.
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