HealthEquity price target lowered to $89 from $101 at Wells Fargo

Wells Fargo analyst Stan Berenshteyn lowered the firm’s price target on HealthEquity to $89 from $101 and keeps an Overweight rating on the shares. With three-year Treasury rates now appearing to have decisively reversed their upward advance, Wells Fargo thinks HealthEquity’s valuation multiple will move closer to fintech peers with similar revenue growth profiles, the analyst tells investors in a research note.