BUZZ-Wells Fargo upgrades American Well Corp to 'overweight'
Brokerage Wells Fargo upgrades telemedicine firm American Well Corp AMWL.N to "overweight" from "equal weight"; maintains PT of $15
Brokerage expects co's Converge platform to have been fully deployed with U.S. Defense Health Agency (DHA) by the end of Q4, implying it will generate revenue of a subscription model throughout 2025
Co's Converge platform integrates in-person, virtual, and automated healthcare care into one system
Brokerage says co's contract with DHA will generate $50 mln in revenue in 2025
Brokerage believes AMWL's sales strategy pivot, led by incoming CFO Mark Hirschhorn, could lead to a more comprehensive "go-to-market strategy"
Stock fell 75% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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