Waystar initiated with an Outperform at Leerink

Leerink initiated coverage of Waystar (WAY) with an Outperform rating and $43 price target The firm sees Waystar as well-positioned to drive ongoing growth through its broad reach into the market that gives a latent opportunity for further cross-penetration, with additional upside potential from customer expansion. The recent Iodine acquisition advanced the company’s AI capabilities while also broadening its end-to-end functionality, offering a one-stop-shop environment for health systems, Leerink adds.