UPDATE: Goldman Sachs Lowers WebMD Health's PT
According to a research report published this morning, Goldman Sachs has decreased WebMD Health's (NASDAQ: WBMD) PT from $23 to $22.
In the report, Goldman Sachs said, "WebMD reported 1Q results with revenues and adjusted EBITDA in line, and non-GAAP EPS of $0.16. Continued weakness is expected through 2Q, though management believes improvement in 4Q is possible on new drug introductions. We continue to believe that the weak pharma advertising environment, competition-driven pricing pressures, uncertainty around the CEO search and the transition to mobile, suggest an unfavorable risk/reward scenario for WebMD."
Goldman Sachs maintains its Sell rating on WebMD, which is currently trading at $22.30.
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