Morgan Stanley Sees Upside for GoodRx Holdings Inc. (GDRX) in 2H
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Morgan Stanley analyst Ricky Goldwasser reiterated an Equalweight rating and $36.00 price target on GoodRx Holdings Inc. (NASDAQ: GDRX) after dampened utilization pressured 4Q MAC, but the analyst is looking through this and believes that as patients resume more normal behavior patterns and relationships with brand manufacturers kick into higher gear, there will be upside in 2H of the year.
The analyst stated "Implied guidance for rest if the year (2Q to 4Q) more aligned with the street implying 2Q to 4Q revenues of $586 million versus MS’ $588 million for same period and consensus’ $576 million. Guidance assumes utilization goes back to pre COVID baseline in 2H21, with new written scripts tracked by IQVIA will be key metric to watch to identify the inflection point."
Shares of GoodRx Holdings Inc. closed at $41.88 yesterday.
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