Shares of Phreesia, Inc. (PHR) surged 5.00% in Thursday's intraday trading session, following a series of analyst actions that painted a largely positive picture for the healthcare technology company. The stock's upward movement was primarily fueled by Truist Securities' decision to raise its price target, coupled with maintained buy ratings from multiple firms.
Truist Securities, a key player in shaping investor sentiment, raised its price target for Phreesia from $34 to $35 while maintaining a Buy rating on the stock. The firm cited the company's improved outlook as the basis for this upward revision. Additionally, Canaccord Genuity reaffirmed its Buy rating on Phreesia, further bolstering investor confidence.
However, it wasn't all positive news for Phreesia. Citigroup slightly tempered expectations by reducing its target price from $35 to $33. Despite this, the overall analyst consensus remains bullish, with FactSet reporting an average rating of Buy and a mean price target of $31.43 for Phreesia. The mixed but generally positive analyst actions appear to have tipped the scales in favor of the bulls, driving the stock's significant intraday gain.
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