Phreesia price target lowered to $29 from $35 at Truist

Truist lowered the firm’s price target on Phreesia to $29 from $35 but keeps a Buy rating on the shares. The company’s Q1 results were “solid”, making the magnitude of the post-earnings decline in the stock price a “bit puzzling”, the analyst tells investors in a research note. Phreesia is also working to assess the potential impact of the cyberattack and restore the service, though based on its investigation as of last Thursday, the company had seen no evidence that its other services have been affected and the incident was not expected to have a material impact on its overall business operations, Truist added.