GoodRx price target raised to $7 from $6 at Wells Fargo

Wells Fargo analyst Stan Berenshteyn raised the firm’s price target on GoodRx to $7 from $6 after its Q2 earnings beat but keeps an Equal Weight rating on the shares. The company lowered guidance a second time this year, but the management’s focus on cost initiatives should help GoodRx restore its trajectory to 30% EBITDA margins, the analyst tells investors in a research note. The firm added that it expects to see revenue acceleration in 2024.