Citi reiterated a Buy rating and $5.75 price target on GoodRx (GDRX), noting the stock jump following CEO Wendy Barnes’ comments on Fox Business around potentially partnering with TrumpRx. Initially, the firm thought TrumpRx could be a potential competitor to GoodRx depending on patient awareness. A partnership would be “welcome news,” and is in line with the firm’s recent conversation with CFO Chris McGinnis, where he highlighted how the company is well-positioned to benefit from the shift to direct-to-consumer drug channel, the analyst tells investors in a research note. While the details are sparse, the firms aid it could imagine a TrumpRx website/app that integrates GoodRx to provide access to its pricing.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GDRX:
- GoodRx jumps 21% to $5.14 in late trading
- GoodRx Holdings: Strategic Advancements and Industry Confidence Justify Buy Rating
- Hims & Hers Health Stock Falls While GoodRx Rallies on Deal with Novo Nordisk
- Dayforce said in talks to be acquired, Soho House to go private: Morning Buzz
- Hims & Hers down 2% as GoodRx expands Ozempic, Wegovy access