Phreesia initiated with an Overweight at Wells Fargo

Wells Fargo analyst Stan Berenshteyn initiated coverage of Phreesia (PHR) with an Overweight rating and $30 price target The company owns intake, scheduling, and payments across 14% of U.S. patient visits, the analyst tells investors in a research note. The firm views Phreesia as a “stock to own,” saying it trades below its 2019 initial offering price price despite nearly quadrupling revenue. The stock’s valuation is “no longer an overhang,” add Wells.