UPDATE: Morgan Stanley Reiterates on Performant Financial on Challenges Ahead

In a report published Friday, Morgan Stanley analyst Suzanne E. Stein reiterated an Overweight rating on Performant Financial (NASDAQ: PFMT ), but lowered the price target from $13.00 to $12.00. In the report, Morgan Stanley noted, “Model changes reflect a pause in the RAC program and pressure on GA revenues.