Amwell price target raised to $12 from $10 at Truist

Truist raised the firm’s price target on Amwell (AMWL) to $12 from $10 and keeps a Hold rating on the shares. The firm is citing improved profitability expectations relative to its prior model while also noting that shares trade at a discount to it’s historical average, which is warranted given the lack of clarity on the company’s revenue growth acceleration in the out years and breakeven profitability targets, the analyst tells investors in a research note.