In a report published Tuesday, Stifel analyst Steve Rubis initiated coverage on Everyday Health EVDY with a Buy rating and $18.00 price target.
In the report, Stifel noted, “We are initiating coverage of Everyday Health, Inc., with a Buy rating on the shares and establishing a 12-month target price of $18 per share. Our target price equates to a 3.1x EV/Sales multiple on our 2015 sales estimate of $204.4 million, and a 14.5x EV/adjusted EBITDA multiple on our 2015 adjusted EBITDA estimate of $44.0 million. Our investment hypothesis holds that Everyday Health should benefit from advertising revenue growth in coming years, driven by a mix shift to higher value biopharma advertising, strong marketing analytics, and key partnerships with Mayo Clinic and Twitter.”
Everyday Health closed on Monday at $13.99.
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