HealthEquity price target raised to $120 from $105 at Barrington

Barrington raised the firm’s price target on HealthEquity (HQY) to $120 from $105 and keeps an Outperform rating on the shares ahead of the company reporting Q3 results on Monday, December 9, after market close. With a strong and “industry-leading” Health Savings Account business and a recovering consumer-directed benefits business, combined with a higher effective yield on cash for the next several years, the firm expects operating and financial performance to “continue to improve on a consolidated basis going forward,” the analyst tells investors in a preview.