DA Davidson analyst Michael Kawamoto initiated Joint Corp with a Buy rating and a price target of $10, citing the company’s position as the “leading franchised chiropractic concept with great visibility to growth and margin expansion”. The analyst expects the company to continue rapidly expanding its retail presence beyond the 422 current locations, with potential of as many as 1,700 stores nationwide over the long term. Kawamoto also believes that chiropractic services are becoming more popular, with “several well regarded medical organization” validating their benefits.
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