Morgan Stanley says this little-known health care stock can soar about 80% from here
Definitive Healthcare is an attractive buying opportunity as shares could surge roughly 80%, according to Morgan Stanley. Analyst Craig Hettenbach named data and analytics company Definitive Healthcare a top pick, citing its strong business model and attractive entry point as health-care companies deal with longer selling cycles. "We see a compelling risk/reward in the stock, emphasizing an attractive combination of strong growth and profitability.
The sector in the S & P 500 is down about 11% in 2022, compared to a nearly 18% decline in the overall index. But the picture for digital health companies has been more mixed as they contend with macro challenges and longer selling cycles. The analyst pointed out "a downtick through the summer" as a concern. Regardless, the recent drop in Definitive Healthcare's stock price is an attractive entry point for investors to buy into a strong business model, according to the firm.
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