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DocGo downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank downgraded DocGo (DCGO) to Hold from Buy with a price target of $2.85, down from $5. The firm reduced reduced 2025 EBITDA estimates due to DocGo deciding to invest in its transition to care gap closure. Given concerns from a lack of visibility, the analyst feels a nearer-term multiple is more appropriate for shares. The potential upside in offset by the company’s significant execution risks around shifting to the base business and margins, the analyst tells investors in a research note.

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