Wells Fargo notes that on Monday morning, HealthEquity provided an updated HSA sales outlook related to accounts and custodial balances. All key metrics for fiscal year-end 2024 track ahead the firm’s estimates, which should help create a positive springboard for 2025. Wells is looking toward HealthEquity’s Investor Day as the likely key catalyst date for the stock. The firm expects the company to detail its enhanced rate strategy, potentially debut products associated with a digital wallet, identify savings/margin potential by adopting chat-based AI into its member services, and possibly establish longer-term guidance. Wells has an Overweight rating on the shares with a price target of $93.
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