Livongo Health Inc. (LVGO) PT Raised to $85 at KeyBanc

KeyBanc analyst Donald Hooker raised the price target on Livongo Health Inc. (NASDAQ: LVGO) to $85.00 (from $52.00) after hosting investor meetings with management.

The analyst maintained an Overweight rating, stating "We continue to see LVGO as a potential “beat-and-raise” story through 2020 and 2021. Also, recent regulatory relief in the area of remote patient monitoring could create a new ~$15B “greenfield” opportunity for LVGO to sell its digital health services directly to hospitals and physicians serving Medicare populations. Our updated $85 PT implies ~21x 2021 revenue and reflects the Company’s current triple-digit revenue growth profile".

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