UPDATE: Stifel Initiates Coverage On athenahealth On Building The Healthcare Cloud

In a report published Tuesday, Stifel analyst Steve Rubis initiated coverage on

with a Buy rating and $155.00 price target. In the report, Stifel noted, “We are initiating coverage of athenahealth, Inc., with a Buy rating on the shares and a $155.00 12-month target price. Our target equates to an enterprise value multiple of 6.7x our 2015 revenue estimate of $920.5 million. We believe athenahealth represents a cornerstone franchise within the digital healthcare industry. Through cloud-based software, networked knowledge, and value-add back-office administration, the company aims to be the caregiver's most trusted service platform.” athenahealth closed on Monday at $124.50.