03:31 PM EDT, 03/28/2024 (MT Newswires) -- TruBridge's ( TBRG ) transformation into a revenue cycle management company from a medical software provider unlocks a huge growth opportunity, RBC Capital Markets said in a note Thursday.

"Based on our channel discussions, [revenue cycle management, or RCM] initiatives are near the top of all provider priority lists and ultimately we expect to see a lot of focus on RCM and growth over the next [three or more] years," the brokerage said.

The company sees a $12 billion revenue opportunity in its target RCM market. But, how quickly can the company execute on the opportunity, the investment firm said in the note.

RBC has initiated coverage of TruBridge ( TBRG ) with an outperform rating and $13 price target.

The stock was 2% lower in recent trading. "We don't think investors are fully appreciating the significance of the transformation nor the magnitude of the growth opportunity that lies ahead," it said.

Price: 9.35, Change: -0.21, Percent Change: -2.20