HealthEquity price target lowered to $100 from $105 at BofA

BofA lowered the firm’s price target on HealthEquity to $100 from $105 and keeps a Buy rating on the shares. The firm, which views the relatively weaker than expected guidance raise given the strength of the quarter as reflective of incremental conservatism in the face of some recent rate volatility, remains confident into the second half of the year, the analyst tells investors in a post-earnings note. The firm, which increased its FY25 revenue and EBITDA estimates, rolls forward its valuation framework to calendar year 2025 and reduced the multiple to reflect peer group multiple compression.