Barrington analyst Michael Petusky raised the firm’s price target on ModivCare (MODV) to $25 from $22 and keeps an Outperform rating on the shares. The firm is “encouraged” by the company’s plan to shift some meaningful portion of its shared risk contracts to fee for service agreements, notes the analyst, who thinks this transition will take a few quarters to execute, but should provide “a lot more predictability” in terms of quarterly cash flow generation once it has been accomplished and thinks this change will “provide meaningful comfort to investors as well.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MODV:
- ModivCare price target lowered to $18 from $26 at Deutsche Bank
- Modivcare Inc. Faces Financial Uncertainty Amid Extended Payor Delays and Liquidity Concerns
- Modivcare Inc. Reports Q3 2024 Financial Results
- ModivCare reports Q3 adjusted EPS 45c, consensus 77c
- ModivCare backs FY24 revenue view $2.7B-$2.9B, consensus $2.82B
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
