Guardian Pharmacy price target raised to $43 from $38 at Truist

Truist analyst David MacDonald raised the firm’s price target on Guardian Pharmacy (GRDN) to $43 from $38 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in Healthcare Services, or HC. The firm remains broadly bullish on its HC Services coverage universe tied to continued strong demand trends, overarching secular tailwinds and more favorable/stable reimbursement backdrop, with the recent Final Medicare Advantage Rule seen as an “encouraging data point”, the analyst tells investors in a research note. Truist adds that it continues to think the sector is well positioned given that it’s scaled, domestic and defensive, also noting that the group is a beneficiary of AI/automation/interconnectivity, with strong free cash flow and attractive financial flexibility supporting the ongoing growth investment/M&A/shareholder friendly initiatives.