Chardan Capital Markets Starts Benefitfocus (BNFT) at Buy, $36 PT

Chardan Capital Markets initiates coverage on Benefitfocus (NASDAQ: BNFT) with a Buy rating and a price target of $36.00.

Analyst Steven Wardell commented, "Benefitfocus is a leading provider of cloud-based healthcare-benefit-management solutions. We expect strong growth for these "benefit hubs" over the next two years based on our recent Channel Checks. We see Benefitfocus maintaining a strong market position with a differentiated product. We believe there is 17% upside for the name in the next 12 months."

For an analyst ratings summary and ratings history on Benefitfocus click here. For more ratings news on Benefitfocus click here.

Shares of Benefitfocus closed at $30.85 yesterday.

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