Allen Klee, an analyst from Maxim Group, reiterated the Buy rating on WELL Health Technologies Corp. The associated price target remains the same with C$8.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Allen Klee has given his Buy rating due to a combination of factors that highlight WELL Health Technologies Corp’s strong performance and strategic focus. The company reported better-than-expected results for the second quarter, which has positively influenced its financial outlook. Additionally, WELL Health is targeting the upper half of its guidance, indicating confidence in its operational capabilities.
Furthermore, the company’s plan to divest its US business and concentrate on its Canadian operations is seen as a strategic move to streamline its focus and resources. This decision is expected to enhance its profitability and operational efficiency. As a result, Allen Klee has raised the EBITDA estimates for WELL Health, reinforcing the Buy rating with a price target of C$8.
According to TipRanks, Klee is an analyst with an average return of -15.1% and a 28.63% success rate. Klee covers the Technology sector, focusing on stocks such as Castellum, Roadzen Inc, and Health In Tech, Inc. Class A.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a C$7.00 price target.