HealthEquity price target raised to $110, named a ‘Best Idea’ at Guggenheim

Guggenheim raised the firm’s price target on HealthEquity (HQY) to $110 from $94 and keeps a Buy rating on the shares, which the analyst named as “Best Idea,” replacing Hims & Hers (HIMS). The firm, which notes that its estimates are above the Street view in FY25 and FY26, believe shares should continue to outperform, driven by both upward estimate revisions and multiple expansion. The firm thinks sell-side models “underappreciate how current interest rate levels ladder” into HealthEquity’s cash AUM portfolio, while noting that the buy-side has “valued the stock near historic lows.”