KeyBanc analyst Scott Schoenhaus raised the firm’s price target on HealthEquity (HQY) to $125 from $120 and keeps an Overweight rating on the shares. Coming off a choppy year for HCIT stocks, fundamentally, the firm did see a “year of inflection” for many of its names with estimate revisions plus valuations largely bottoming. While KeyBanc expects momentum to continue for most of its coverage, the firm does see valuation multiples impacted by competition concerns and regulatory impacts.
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