Why American Well Was a Big Winner on Monday

A recent arrival to the stock exchange, telehealth services specialist American Well (NYSE: AMWL), has been a favorite of investors. It seems as if the stock is becoming a favorite of analysts too. On Monday, prognosticators from several prominent companies initiated coverage on the stock, several with emphatic buy recommendations. Not surprisingly, American Well (a.k.a. Amwell) shot higher in trading, closing the day up by 6.3%.

New members of the Amwell Fan Club include Cowen's Charles Rhyee. He launched his coverage of the stock with a $41-per-share price target -- 18% higher that its latest closing -- and an outperform rating.

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Source Fool.com