JPMorgan analyst Anne Samuel upgraded Doximity (DOCS) to Neutral from Underweight with a price target of $40, down from $62. The firm says the company’s fiscal Q3 report was were overshadowed by policy uncertainty around client budgets and a more back-end weighted revenue outlook. The firm, however, views the post-earnings selloff as overblown. It cut the price target on budget uncertainty and slower digital spend but upgraded the shares on valuation.
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