WageWorks (WAGE) 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.
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