Cross Country Healthcare: Hold Rating Amid Acquisition Termination and Uncertain Financial Trajectory
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Jefferies analyst Jack Slevin maintained a Hold rating on Cross Country Healthcare with a price target of $8.65. The termination of the proposed acquisition by Aya led to a $20 million termination fee, which CCRN plans to use for share buybacks. Despite a strong net cash position, the company's financial trajectory remains uncertain, lacking fourth-quarter guidance. Slevin's cautious stance reflects these uncertainties, awaiting signs of fundamental improvement.
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