BMO Capital analyst Sean Dodge upgraded HealthEquity, Inc (NASDAQ: HQY) from Market Perform to Outperform with a price target of $105.00 (from $85.00).

The analyst comments: "Several recent developments/initiatives both elevate and increase our conviction in HQY's longer-range (i.e., post CY27) growth outlook (to HSDs/LDDs vs. prior MSDs/HSDs), which combined with the impact overblown AI fears have had on valuation are now providing investors with an attractive entry point. Our upwardly-revised long-term outlook is driven by: (1) the recent Marketplace launch establishing a new, large, and high-margin growth opportunity; (2) increasing conviction in continued MSD-HSD HSA account growth, now bolstered by recent ACA expansion; and (3) encouraging progress with service-cost reduction efforts and long remaining runway."

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 $81.95 yesterday.