Why American Well Stock Was Sickly Today
On a decent trading day for most stocks, American Well (NYSE: AMWL) didn't do so well on Wednesday. The healthcare tech solutions provider saw its share price erode by more than 6% on the back of two analyst moves.
The first of these was a price target cut from Piper Sandler's Jessica Tassan, who now feels American Well -- aka Amwell -- is worth $5 per share these days, down from her previous level of $6. She's maintaining her overweight (buy, in other words) recommendation, however.
She feels that the company has executed well so far this year; the cut was due to adjustments to her forecasts following second-quarter results. That quarter saw Amwell notch slight beats on both the top and bottom lines while proffering full-year guidance that broadly met analyst expectations.
Source Fool.com
