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
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