UPDATE: Stifel Initiates Coverage on IMS Health Holdings with Buy Rating, $29 PT on Current Valuation Metrics

In a report published Wednesday, Stifel analyst Shlomo Rosenbaum initiated coverage on

with a Buy rating and $29.00 price target. In the report, Stifel noted, “We are initiating coverage of IMS Health Holdings, Inc. (IMS) with a Buy rating on the shares. Our $29 target price assumes the company will achieve about a 5% FCF yield on our 2015 FCF estimates, and is consistent with the average FCF yield of the Business Information Services group on 2014 estimates. This valuation implies about 18.3x 2015 adjusted EPS, roughly similar to the EPS multiples of EFX and NLSN on 2014 numbers – we are assuming current valuation metrics carry forward to 2015.” IMS Health Holdings closed on Tuesday at $25.21.