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Doximity upgraded to Equal Weight from Underweight at Wells Fargo

Wells Fargo upgraded Doximity (DOCS) to Equal Weight from Underweight with a price target of $62, up from $55. The firm is also raising estimates on product-led growth tailwinds, drug pipeline, and checks pointing to healthy pharma commercial activity. This should translate into positive near-term momentum on earnings, but valuation keeps Wells on the sidelines.

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