SelectQuote price target lowered to $5 from $6 at RBC Capital

RBC Capital lowered the firm’s price target on SelectQuote (SLQT) to $5 from $6 and keeps a Sector Perform rating on the shares. The firm is updating its model following the company’s results, noting that its Healthcare Services headwinds are likely short-term and should be resolved through ongoing negotiations as management reiterated its confidence in the segment’s long-term growth trajectory and profitability, the analyst tells investors in a research note. Despite the known $20M PBM reimbursement headwind, the management also maintained its EBITDA guidance, the firm added.