HealthEquity price target raised to $75 from $70 at RBC Capital

RBC Capital analyst Sean Dodge raised the firm’s price target on HealthEquity to $75 from $70 and keeps an Outperform rating on the shares. The business of HDHPs/HSAs remains healthy, and his custodial cash waterfall analysis suggests that the year-to-date increase in interest rates points to "meaningful upside" to FY24 consensus EBITDA, the analyst tells investors in a research note. Dodge adds however that based on the year-to-date HealthEquity stock outperformance, much of this is likely already priced in.