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Research Alert: CFRA Keeps Buy Opinion On Shares Of Goodrx Holdings, Inc.
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Research Alert: CFRA Keeps Buy Opinion On Shares Of Goodrx Holdings, Inc.
May 15, 2024 10:48 AM

01:20 PM EDT, 05/15/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price by $1 to $9 based on an enterprise value of 13.4x our 2025 EBITDA estimate, a discount to GDRX's historical average due a slowing growth rate relative to historical. We keep our EPS estimate at $0.37 in 2024 and $0.45 in 2025. GDRX published a press release today announcing a new contracting agreement with Kroger (KR 55 ***) to deliver improved prescription pricing at more than 2,200 Kroger family pharmacy locations nationwide. The agreement starts June 1 of this year. We note Kroger was previously an important customer for GDRX, but the Kroger Savings Club was set to be discontinued. In addition to the top-line contributions this agreement should bring, we anticipate an improvement in sentiment for the stock seeing this key customer return.

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