JPMorgan ups HealthEquity target, adds to Analyst Focus List

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.