Mizuho Securities Downgrades WebMD Health Corp. (WBMD) to Neutral

November 2, 2016 6:22 AM EDT
Get Alerts WBMD Hot Sheet
Price: $50.99 --0%

Rating Summary:
    7 Buy, 8 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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Mizuho Securities downgraded WebMD Health Corp. (NASDAQ: WBMD) from Outperform to Neutral with a price target of $52.00 (from $63.00) following solid-Q3 results but a weak 2017 outlook.

Analyst Neil Doshi commented, "WebMD reported a solid 3Q and in-line 4Q. However, the company's initial outlook for 2017 implies a significant decel in Pharma ad revenue given increased uncertainty around drug pricing concerns. While the company is still firming up ad contracts for 2017, we believe that this pricing issue might not be resolved in the near-term, and could result in prolonged uncertainty. As such, we are stepping to the sidelines until we get more clarity on '17 ad budgets for WebMD."

For an analyst ratings summary and ratings history on WebMD Health Corp. click here. For more ratings news on WebMD Health Corp. click here.

Shares of WebMD Health Corp. closed at $49.92 yesterday.

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