Cross Country Healthcare initiated with a Neutral at Wedbush

Wedbush initiated coverage of Cross Country Healthcare (CCRN) with a Neutral rating and $11 price target The firm says the company stands at a pivotal inflection point following the failed Aya Healthcare merger, with the combination of a recently announced strategic pivot to become a tech-enabled staffing provider, a debtfree balance sheet with $119M liquidity enabling strategic investments, co-founder Kevin Clark’s return as CEO bringing proven technology platform development expertise, and compressed valuation multiples creating potential for material upside if the company successfully executes its technology-led transformation or attracts renewed acquisition interest at improved valuations.