Singular Research Reiterates Buy on Ebix After HealthConnect Acquisition
Singular Research has published a research report on Ebix (NASDAQ: EBIX) commenting on the company's acquisition of HealthConnect.
In the report, Singular writes, "Acquires HealthConnect for its comparative quoting exchange, expected to be accretive. Hires five new sales executives. Organic revenue grew by 0.8%, sequentially, with Exchange revenue growing by 2.8% offset by declines in other segments. EPS estimate exceeded by 8.7%, due to one-time adjustments."
Singular reiterates its Buy rating and $28 price target on Ebix, which is currently trading up $0.28 from yesterday's $20.22 closing price.
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