HealthEquity added to Q3 2023 Tactical Ideas List at Wells Fargo

Wells Fargo analyst Stan Berenshteyn added HealthEquity to the firm’s Q3 2023 Tactical Ideas List, while keeping an Overweight rating and a price target of $89 on the shares. Wells sees an attractive risk/reward setup that should help HealthEquity outperform over the next 12 months, as valuation multiples are near lows while 2025 consensus estimates are likely to move higher. Plus, new products may help reinforce the growth narrative, the firm adds.