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Why American Well Stock Surged on Thursday

·2-min read

The catalyst that sent the telehealth software company higher was bullish commentary courtesy of a Wall Street analyst. Piper Sandler analyst Sean Wieland raised his price target on American Well (also called Amwell) to $6, up from its previous level of $5. The analyst cited numerous client wins, including the recent signing of CVS Health (NYSE: CVS), which he sees as "marquee reference customers."

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