In a report published Friday, Stifel Nicolaus analyst George Askew reiterated a Buy rating on WebMD WBMD, and raised the price target from $31.00 to $35.00.
In the report, Stifel Nicolaus noted, “We believe our 2Q13 ad tracker analysis suggests WebMD continues to experience an improving advertising environment driven by structural pricing changes in 4Q12. In our view, advertiser diversity continues to improve, new advertisers are coming to the platform, and existing advertisers are advertising more. We believe the company remains poised to beat management's 2Q13 financial guidance. We maintain our Buy rating and raise our price target to $35.”
WebMD closed on Thursday at $27.73.
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