Truist lowered the firm’s price target on Phreesia (PHR) to $24 from $29 and keeps a Buy rating on the shares. Shares underperformed in 2025 despite the company executing on its strategy to prioritize earnings power over growth, and investor skepticism around sustainable top-line growth persists, the analyst tells investors in a research note. Truist says Phreesia is now a “show me” story for 2026, needing several quarters of revenue and EBITDA outperformance to regain investor confidence.
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