Shares of GoodRX (NASDAQ: GDRX) rallied 7.5% today, as the prescription drug price-comparison site and telehealth platform garnered a positive upgrade from analysts at Wells Fargo. Monday's performance continued the stock's strong performance since the beginning of the year. But is a true recovery for the beaten-down health-tech stock really beginning?
In its note today, the Wells Fargo analyst team raised its rating on GoodRX from "equal weight" to "overweight," while raising its price target from $7.50 to $10. This compares with a $6.58 share price to begin the day.
According to the analysts, the positive change of heart is due to the firm's greater appreciation of GoodRx's staying power and revenue visibility this year, saying:
Source Fool.com