UPDATE: Stifel Nicolaus Upgrades WebMD Health Corp to Buy Following Q4 Beat
Stifel Nicolaus upgraded WebMD Health Corp (NASDAQ: WBMD) from Hold to Buy and announced a $26.00 price target.
Stifel Nicolaus commented, "We are upgrading shares of WebMD to Buy from Hold and establishing a $26 12-month price target, which is approximately 12.0x our 2014 adjusted EBITDA estimate of $90.2 million. We believe that pricing changes (greater choice and simplicity) implemented in 4Q12 suggest advertising trends are likely to improve. We expect traction in mobile to continue and provide a catalyst for a turnaround at WebMD."
WebMD Health Corp closed at $16.30 on Thursday.
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