WW price target raised to $11 from $10 at DA Davidson

DA Davidson raised the firm’s price target on WW to $11 from $10 and keeps a Buy rating on the shares. The company may report an upside surprise vs. consensus when it releases Q2 results on August 3rd as app downloads – a good proxy for new member growth – were up in 7 of the last 10 weeks on year-over-year basis, the analyst tells investors in a research note. The firm adds that while Medicare is prohibited from covering weight loss drug costs, as drug costs come down with more competition entering, coverage by commercial health insurance will continue to go up.