Medifast upgraded to Neutral from Underperform at DA Davidson

DA Davidson analyst Linda Bolton Weiser upgraded Medifast (MED) to Neutral from Underperform with a price target of $17, up from $16.50. With cash and investments of about $15.50 per share and no debt, the valuation “already seems to imply near zero for the remaining declining business,” so share price downside could be more limited from here, the analyst tells investors.