UPDATE: RBC Capital Starts Bright Health Group (BHG) at Outperform

RBC Capital analyst Frank Morgan initiates coverage on Bright Health Group (NYSE: BHG) with a Outperform rating and a price target of $22.00.

The analyst comments "We initiate coverage on Bright Health Group at Outperform with a $22 price target based on target enterprise value of 1.5x 2023E revenue. Over the last 70 years, both the public and private sectors have made multiple attempts to control healthcare inflation while also improving health outcomes. Despite many approaches, all have failed in one critical aspect: never addressing the binary financial relationship between payors and providers, where what was good for one side was bad for the other. We believe BHG’s alignment model represents the best approach, backed by a seasoned management team, many of whom are UNH alums."

For an analyst ratings summary and ratings history on Bright Health Group click here. For more ratings news on Bright Health Group click here.

Shares of Bright Health Group closed at $13.75 yesterday.

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