Veradigm downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank downgraded Veradigm to Hold from Buy with a price target of $10, down from $15. The company recently announced initial financial guidance for fiscal 2024, calling the year a reset and then for accelerating growth and margin expansion in the years ahead, the analyst tells investors in a research note. The firm says Veradigm believes 2024 growth will largely be driven by payer and life sciences, as the company looks to become more of a data and analytics company.