UPDATE: Jefferies Upgrades Medifast (MED) to Buy
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Jefferies analyst Stephanie Wissink upgraded Medifast (NYSE: MED) from Hold to Buy with a price target of $265.00 (from $205.00).
The analyst comments "We are upgrading shares of MED to Buy as we see the company well positioned to grow its leading role in the wellness sector over the next 12-24 months. Rising consumer health centric attitudes, well depicted in our mid-Jan proprietary survey here, have driven interest in OPTAVIA to an all-time high setting the scene for a robust 2021. We are taking our est. above cons. and see risk biased to the upside. Our new $265 PT = ~22x '22 EPS."
Shares of Medifast closed at $220.87 yesterday.
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