Claritev upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Jessica Tassan last night upgraded Claritev (CTEV) to Overweight from Neutral with a price target of $44, up from $19. The firm sees an improving fundamental outlook following the Q1 revenue and adjusted EBITDA beat. Claritev’s three-year renewal with Elevance Health (ELV), strategic commercialization partnerships, solid bookings and “burgeoning pipeline mitigate significant customer concentration risk,” the analyst tells investors in a research note. Piper now has increased confidence in the achievability of the company’s reiterated 2025 guidance and 2026 growth.