Waystar initiated with a Buy at Citi

Citi initiated coverage of Waystar (WAY) with a Buy rating and $45 price target The company has built “an impressive suite” of cloud-based revenue cycle management solutions and is set to capitalize on the “often-touted (but rarely realized) AI boon in healthcare,” the analyst tells investors in a research note. The firm thinks artificial intelligence use cases to streamline admin processes is real and accelerating and that revenue cycle management “presents the most propitious opportunity.” Within the modular landscape, Citi favors Waystar, saying it has the most comprehensive suite of solutions.