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Fly News Breaks for June 28, 2019
WAGE, HQY
Jun 28, 2019 | 07:42 EDT
Citi analyst Stephanie Demko believes HealthEquity's (HQY) acquisition of WageWorks (WAGE) will bring "significant" synergies. HealthEquity projects ~$50M of synergies over the next 24-36 months, which the analyst notes is well ahead of her $3M-$15M estimate. Further, the deal close removes an uncertainty overhang for HealthEquity shares, while the synergy potential should "fuel out year growth as well as new wins," Demko tells investors in a research note. She keeps a Buy rating on HealthEquity shares.
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