GoodRx Strengthens Core Business With New Initiatives, Analyst Upgrades On Potential Opportunities
Portfolio Pulse from Vandana Singh
RBC Capital Markets has upgraded GoodRx Holdings Inc (NASDAQ:GDRX) from Sector Perform to Outperform, raising the price target from $8 to $10. The upgrade is based on new initiatives like the Integrated Savings Program (ISP), direct contracting (DC), and the expansion of its manufacturing solutions business, which are expected to provide significant growth opportunities. GoodRx has also secured a new direct contracting agreement with Kroger Co. (NYSE:KR), allowing patients to use GoodRx coupons at Kroger Pharmacies for more savings on generics starting June 1.
May 23, 2024 | 4:38 pm
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RBC Capital Markets has upgraded GoodRx Holdings Inc (NASDAQ:GDRX) from Sector Perform to Outperform, raising the price target from $8 to $10. The upgrade is based on new initiatives like the Integrated Savings Program (ISP), direct contracting (DC), and the expansion of its manufacturing solutions business, which are expected to provide significant growth opportunities.
The upgrade from RBC Capital Markets and the raised price target are strong positive signals for investors. The new initiatives and partnerships are expected to drive significant growth, making the stock more attractive.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
GoodRx announced a new direct contracting agreement with Kroger Co. (NYSE:KR), allowing patients to use GoodRx coupons at Kroger Pharmacies for more savings on generics starting June 1.
The new direct contracting agreement with GoodRx is likely to drive more foot traffic to Kroger Pharmacies, potentially boosting sales and customer loyalty.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50