RBC Capital analyst Sean Dodge raised the firm’s price target on HealthEquity to $77 from $75 and keeps an Outperform rating on the shares after its Q2 earnings beat driven mainly by higher custodial revenue and guidance raise. The firm further cites HealthEquity’s positive updates on several longer-term growth and profitability enhancing initiatives, including winning new enterprise accounts, enhancing average custodial yields by transitioning more deposits to its new enhanced yield offering, and leveraging technology to reduce service costs.
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