Tiger Brokers

BUZZ-Truist starts Waystar coverage with 'buy' on demand for automation in healthcare

Reuters
Mar 14
BUZZ-Truist starts Waystar coverage with 'buy' on demand for automation in healthcare

** Brokerage Truist Securities starts coverage on healthcare payments software provider Waystar WAY.O with "buy" rating

** Brokerage sets PT at $45, a 27.6% upside to stock's last close

** Says WAY will benefit as healthcare providers automate software solutions to reduce administrative burden and improve efficiency

** Says co is likely to continue benefiting from the February 2024 ransomware attack on competitor Change Healthcare, a UnitedHealth Group UNH.N subsidiary

** "About 30% of the clients who switched to WAY due to the incident are already engaged in exploring additional software modules on the WAY platform," says brokerage

** All eleven brokerages covering the co rate the stock "buy" or higher; their median PT is $50 - LSEG

** Stock down ~4% YTD, as of last close

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com;))

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