Waystar price target lowered to $48 from $51 at BofA

BofA analyst Allen Lutz lowered the firm’s price target on Waystar (WAY) to $48 from $51 and keeps a Buy rating on the shares. The firm’s Q1 survey indicates a slowdown in health systems looking to make a change to their current revenue cycle software strategy, the analyst tells investors. The firm is “slightly more optimistic” that Waystar is gaining mindshare among hospitals, but expects contract signings could be pushed out relative to our prior expectations, likely driven by greater caution due to tariff uncertainty, the analyst added.