Phreesia initiated with a Buy at Truist

Truist initiated coverage of Phreesia with a Buy rating and $35 price target. As one of the leading providers of access, registration, revenue cycle, and network connect solutions for healthcare organizations, Phreesia is well positioned to benefit from the tailwinds supporting the large and growing patient engagement market, the analyst tells investors in a research note. The firm says the company’s recent pullback in investment spend will accelerate its path to profitability.