Premier price target lowered to $16 from $19 at BofA

BofA lowered the firm’s price target on Premier (PINC) to $16 from $19 and keeps an Underperform rating on the shares. There is limited visibility into an improvement in the fee share rates and the firm expects this pressure to persist over the intermediate term, the analyst tells investors. The firm is lowering its FY25 revenue estimates from to $971.4M from $1.006B to account for lower Performance Services revenue less than offset by higher Supply Chain Services revenue.