HealthEquity, Inc (HQY) PT Raised to $60 at Jefferies on Solid Momentum

Jefferies analyst Glen Santangelo raised the price target on HealthEquity, Inc (NASDAQ: HQY) to $60.00 (from $54.00) while maintaining a Buy rating on solid momentum into FY23.

The analyst commented, "We are encouraged by the improving fundamentals around the HSA biz and interest rate environment, positioning the company to potentially top expectations in FY23, in our view. Following the disappointing CDB result in 3Q, we think the bar has been reset with the stock trading at just 15x C23e EBITDA. Meanwhile, the reported prelim FY22 HSA metrics and a better rate environment, which should improve investor confidence into FY23."

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