Citi Downgrades R1 RCM Inc (RCM) to Neutral

Citi analyst Daniel Grosslight downgraded R1 RCM Inc (NASDAQ: RCM) from Buy to Neutral with a price target of $14.30 (from $16.00).

The analyst comments "We are downgrading RCM from Buy to Neutral and lowering our price target to $14.30 which is equal to the TowerBrook Capital Partners and Clayton, Dubilier and Rice acquisition price. As we previously noted (LINK), we think TowerBrook/CD&R’s $14.30 bid will be accepted by shareholders and we do not believe that a higher bidder will emerge given it was the outcome of a broad process that included New Mountain (recall New Mountain’s bid was at $13.25/share). We do not anticipate any anti-trust issues, and believe the deal will close by year end as R1 expects."

For an analyst ratings summary and ratings history on R1 RCM Inc click here. For more ratings news on R1 RCM Inc click here.

Shares of R1 RCM Inc closed at $14.05 yesterday.

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