Truist lowered the firm’s price target on Accolade to $15 from $17 and keeps a Buy rating on the shares. While the company beat on both revenue and adjusted EBITDA in Q2, it also kept its full year guidance unchanged, the analyst tells investors in a research note. Accolade remains confident in its segment Y/Y growth targets and believes and believes utilization around surgeries continues to be in line with expectations, though the firm’s reduced price target reflects assumed discount rate rising from 17.5% to 20% due the recent broader market volatility, Truist added.
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