Bank of America reduced its rating on eHealth EHTH from Buy to Underperform while raising its price target from $26 to $28.
Bank of America said, "Although we believe eHealth has positioned itself for a strong 2013, our optimism is tempered by the stock's rich valuation. eHealth, a below peer top and bottom line grower, is trading at 25x 2013E P/PCF which is a steep premium to eCommerce peers at 20x. We are moving our valuation basis to 2014 and raising our price objective to $28 (from $26) based on 17x our 2014 P/FCF estimate plus $6/cash per share."
eHealth closed at $27.24 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in