UPDATE: Credit Suisse Downgrades Performant Financial as Litany of Issues Cloud Outlook

In a report published Friday, Credit Suisse analyst Anjaneya Singh downgraded the rating on Performant Financial (NASDAQ: PFMT ) from Outperform to Neutral, and lowered the price target from $13.00 to $8.00. In the report, Credit Suisse noted, “We are downgrading our rating on PFMT shares to Neutral (from Outperform)