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GoodRx upgraded to Outperform from Sector Perform at RBC Capital

GoodRx upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Sean Dodge upgraded GoodRx to Outperform from Sector Perform with a price target of $10, up from $8. The company’s new initiatives provide it with “several new and meaningful growth opportunities” while also enhancing the durability of its core prescription transaction business, the analyst tells investors in a research note. The firm says GoodRx has signed five pharmacy benefit managers and seven top-10 pharmacies, which provide “good line-of-sight” on annual earnings growth. RBC believes execution will help the stock re-rate to a valuation more in line with its growth rate.

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