Why American Well Stock Surged on Thursday
Shares of American Well (NYSE: AMWL) soared on Thursday, climbing as much as 13.3%. As of 2:46 p.m. ET today, the stock was still up 10.9%
The catalyst that sent the telehealth software company higher was bullish commentary courtesy of a Wall Street analyst.
Piper Sandler analyst Sean Wieland raised his price target on American Well (also called Amwell) to $6, up from its previous level of $5. At the same time, the analyst maintained his overweight (buy) rating on the stock. This represents potential upside for investors of roughly 34% compared to the stock's closing price on Wednesday.
Source Fool.com