Canaccord Genuity Group raised its price target for Enhanced Group Inc. (NYSE: ENHA) to $17.00 from $5.00 and maintained its buy rating. The new target is a 240% increase from the previous target.
Based on the stock's previous closing price of $9.43, the $17.00 target implies potential upside of more than 80%.
Canaccord did not detail the reasons for the revision. The move follows a period of thin analyst coverage for the relatively new public company.