Investors may want to keep an eye on oversold shares of Oak Street Health (OSH).
After falling from about $30 to $24.50, the stock appears to have caught strong support, and is just starting to pivot higher. Helping, there are reports that Amazon may be interested in buying Signify Health, which could fuel further upside for primary care stocks, like OSH.
Even better, earlier this month, Barclays raised its price target on OSH to $34 from $31, with an overweight rating following earnings.
In addition, according to Oak Street CFO, Tim Cook, “Looking at our bottom line, our adjusted EBITDA loss for the quarter of $53.1 million included a prior period benefit of $7.2 million primarily driven by favorable medical cost development from the prior quarter. We remain excited about the opportunities ahead and committed to our mission of rebuilding healthcare as it should be.”
From a current price of $25.89, we’d like to see the OSH stock again challenge $30.