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BUZZ-Phreesia up after RBC upgrades to 'outperform'

Reuters
Jan 09, 2025
BUZZ-Phreesia up after RBC upgrades to 'outperform'

** Shares of digital healthcare services platform Phreesia PHR.N rise as much as 4.2% to $28.10, the highest since February 2024

** Brokerage RBC Capital Markets upgrades the stock to "outperform" from "sector perform", raises PT by $8 to $32

** Sees company's average revenue per client growth accelerating, on increasing Network Solutions segment momentum, cross-selling of several newer provider add-ons and signing of new clients with bigger initial solution bundles

** Also sees company's operating cost base remaining stable, and helping to generate significant operating leverage

** Fifteen brokerages rate the stock "buy" or higher; with a median PT of $30, according to data compiled by LSEG

** PHR sales rose 8.7% last year

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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