Phreesia price target raised to $28 from $27 at JPMorgan

JPMorgan raised the firm’s price target on Phreesia to $28 from $27 and keeps an Overweight rating on the shares. The firm continues to recommend a selective approach in the healthcare technology and distribution group, favoring names “with underlying macro tailwinds in addition to company specific drivers.” Phreesia’s shift towards profitable growth positions it well to drive significant margin expansion next year to low-double-digit EBITDA margins, a “significant feat after just crossing the profitability threshold this year,” the analyst tells investors in a research note.