GoodRx price target raised to $9.50 from $7 at Morgan Stanley

Morgan Stanley analyst Craig Hettenbach raised the firm’s price target on GoodRx to $9.50 from $7 and keeps an Equal Weight rating on the shares after meeting with management. The company expressed confidence in its recently introduced mid-term targets, the analyst tells investors in a research note. The firm increased the price target to reflect signs of traction in GoodRx’s turnaround. It views an acceleration in the company’s growth as key to further multiple expansion for the shares. Against rising costs and friction across the healthcare ecosystem, GoodRx provides a strong value proposition for consumers, employers, pharmacy benefit managers and pharmacies alike, says Morgan Stanley.