Oncology Institute initiated with a Buy at Needham

Needham analyst Matthew Shea initiated coverage of Oncology Institute (TOI) with a Buy rating and $5 price target The need for solutions that can mitigate oncology cost trends “could not be more apparent,” says the analyst, who views Oncology Institute as “a critical player in addressing this gap.” The firm sees demand seeding durable 20%-plus topline growth and sees an opportunity for EBITDA margins to scale towards mid-single digits over the medium term as mix shifts towards value-based care, the analyst tells investors.