Stifel analyst David Grossman downgraded Health Catalyst to Hold from Buy with a price target of $16, down from $27. The factors impacting the company’s lowered 2022 revenue guidance will also impact its 2023 financial results, Grossman tells investors in a research note. Given the seasonality of Health Catalyst’s new business bookings, visibility into improving fundamentals will be limited for another 12-18 months, says the analyst. He moved to the sidelines pending visible data points indicating fundamentals are improving.
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