LifeStance initiated with a Buy at Canaccord

Canaccord analyst Richard Close initiated coverage of LifeStance (LFST) with a Buy rating and $8 price target LifeStance is the largest clinic-based therapy provider, serving its clients both through in-person and virtual visits, the analyst tells investors in a research note. The firm says the company offers the only hybrid, in-person and virtual therapy company to invest in. It believes LifeStance’s acquisition strategy offers growth upside.