09:41 AM EDT, 04/18/2024 (MT Newswires) -- Stifel GMP on Thursday reiterated its buy rating on the shares of WELL Health Technologies ( WHTCF ) and its C$11.00 price target after the company agreed to acquire 10 primary-care medical clinics from Shoppers Drug Mart.

"WELL announced the acquisition of all 10 primary care medical clinics owned by Shoppers Drug Mart, the largest pharmacy network in Canada with an expectation to contribute $8mm in annual revenue," analyst Justin Keywood wrote. "There was no purchase amount disclosed but WELL's press release mentioned onboarding the clinics through its absorption model, where prior multiples have been