Baird Upgrades HealthEquity, Inc (HQY) to Outperform, 'multi-decade compounder'

Baird analyst Mark Marcon upgraded HealthEquity, Inc (NASDAQ: HQY) from Neutral to Outperform with a price target of $87.00 (from $79.00).

The analyst comments "Upgrading to Outperform following several recent positive developments and updates including recent earnings, meetings with management, acquisition announcements, and recent Fed commentary combined with historically attractive valuation. While a higher effective yield on cash is a material positive for the next few years, we are even more attracted by the strong potential for HQY to be a multi-decade compounder as it builds on its leadership position in the growing HSA market.

Earnings and FCF have the potential for multi-year teens+ growth as margins expand

with improved mix and scale."

For an analyst ratings summary and ratings history on HealthEquity, Inc click here. For more ratings news on HealthEquity, Inc click here.

Shares of HealthEquity, Inc closed at $70.97 yesterday.

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