Accolade price target raised to $19 from $18 at Guggenheim

Guggenheim raised the firm’s price target on Accolade to $19 from $18 and keeps a Buy rating on the shares after the company reported a “strong” fiscal Q1 that came in ahead of the high end of its revenue and EBITDA guidance and raised its fiscal year revenue and EBITDA guidance. The firm, which says it has a higher degree of confidence in the raised guidance, thinks Accolade’s business model positions it well for a rising medical cost trend environment.