DA Davidson analyst Michael Kawamoto raised his price target on Joint Corp to $20 and kept his Buy rating after hosting the company’s CEO and CFO for investor meetings. The analyst says the discussions added to his confidence in the company’s “ability to execute its growth strategy and continue to build brand awareness. ” Kawamoto also points to Joint Corp’s 3-year stacked comps growth of 72% thanks to its “significant first mover advantage” and he expects those trends to continue, with added scale translating into “significant margin expansion and earnings growth”.
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