WageWorks (WAGE - Get Report) was raised Friday to outperform from market perform by Wells Fargo analyst Jamie Stockton with a new price target is $45, slightly below the mean of analysts' forecast range between $37 and $87, according to Bloomberg.
The price target implies upside of about 55% from current levels.
The stock closed up 7.2% on Friday to $29.69. Shares of the pretax benefits programs provider have lost 39.54% over the past 12 months.
Zacks Investment Research raised its rating on the stock to hold from sell just last month. Also in February, SunTrust Banks analyst Tobey Sommer cut his target price to $50 but reiterated his buy rating on the stock.
There are four buys, two holds and no sells on WageWorks, according to Bloomberg data.
A Special Invitation: Do you want to learn more about planning for and living retirement from the nation's top experts, including Ed Slott and Robert Powell, the editor of TheStreet's Retirement Daily? Want to learn how to create tax-efficient income in retirement and how to manage and mitigate all the risks you'll face in retirement? Then sign up to attend TheStreet's Retirement Strategies Symposium on April 6 in New York City. For a limited time, you can attend this extraordinary symposium for $149 -- a cost savings of $50 off the general admission price of $199. You can see the full day's agenda, learn about the guest speakers and sign up here for this special event.