B. Riley downgraded Performant Healthcare (PHLT) to Neutral from Buy with a price target of $7.75, up from $7.00, after the company entered into a definitive agreement to be acquired by Machinify for $670M, or $7.75 per share. The deal was unanimously approved by Performant’s board and is expected to close by the end of 2025, the analyst tells investors in a research note.
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