UPDATE: Stifel Initiates Coverage on eHealth with Hold Rating on Uncertainty of Opportunity Post-ACA

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

with a Hold rating. In the report, Stifel noted, “We are initiating coverage of eHealth, Inc. with a Hold rating on the shares. Given shares trade at 20.1x 2015E EV/adjusted EBITDA multiple, we believe the current valuation fails to reflect the significant uncertainties associated with market expansion opportunities, likely higher marketing expenses, and overall uncertainty around quarterly performance post-ACA.” eHealth closed on Monday at $36.19.