Accolade price target raised to $14 from $11 at Morgan Stanley

Morgan Stanley analyst Craig Hettenbach raised the firm’s price target on Accolade to $14 from $11 and keeps an Equal Weight rating on the shares. The firm is "tweaking" adjusted EBITDA estimates higher, stating that management’s tone was bullish on the earnings call as they exhibited a greater confidence in the business. However, the firm expects the shares to consolidate recent strength given the 45% gain in the stock following the company’s job cut announcement on February 28.