Oppenheimer bullish on Guardian Pharmacy, initiates with an Outperform

As previously reported, Oppenheimer initiated coverage of Guardian Pharmacy (GRDN) with an Outperform rating and $30 price target The firm’s favorable investment opinion of Guardian Pharmacy is based on the fragmented market opportunity with meaningful potential from market consolidation; growing demand for services; stable margin profile; and consistent track record. The upcoming reimbursement changes related to maximum fair price add some uncertainty, but Oppenheimer believes the impact will prove manageable, and the concerns are reflected in the stock price.