Medifast price target raised to $93 from $75 at DA Davidson

DA Davidson analyst Linda Weiser raised the firm’s price target on Medifast to $93 from $75 but keeps a Neutral rating on the shares. The analyst states that the company’s Coach convention offered more insight and earnings visibility from its entry into the $30B sports nutrition market and their pilots with telehealth platforms. DA Davidson adds however that it does not sense stabilization of Coaches after three quarters of sequential decline.