JPMorgan raised the firm’s price target on HealthEquity to $108 from $86 and keeps an Overweight rating on the shares. The analyst also added the shares to the firm’s Analyst Focus List as a growth pick with a positive view. The firm views HealthEquity as a “compelling overweight given the strong fundamental trajectory” over the next three years. The firm’s model points to a 19% annual EBITDA growth over the next three years with the company doubling its earnings over that period, driven by double digit sales growth and 580 basis points of margin expansion.
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