Joint upgraded to Neutral on clinic development pullback at DA Davidson

DA Davidson analyst Linda Bolton Weiser upgraded Joint Corp. to Neutral from Underperform with a price target of $15, up from $12. The company reported Q4 results about in line with consensus and its 2023 EBITDA guidance missed consensus by 6% at the midpoint, the analyst tells investors in a research note. Joint still faces "many challenges, but pulling back on corporate clinic development could result in a return to double digit EBITDA growth in 2023, says the firm. As such, Davidson upgraded the shares to Neutral.