Amwell price target lowered to $5 from $6 at Guggenheim

Guggenheim analyst Jack Wallace lowered the firm’s price target on Amwell to $5 from $6 and keeps a Buy rating on the shares. The firm is trimming its multi-year outlook as elongating sales cycles cause it to push back its growth inflection assumption by a year to 2024, but it still believes Amwell’s Converge platform will "reignite overall growth as it becomes a mission-critical digital asset for health plans and health systems to deliver virtual care."