WebMD +5.4% on Stifel upgrade

|About: WebMD Health Corp (WBMD)|By:, SA News Editor

Stifel's Steven Rubis has upgraded WebMD (WBMD) to Buy, and set a $60 PT.

Rubis: "Our upgrade stems from strong industry macro trends and our view that current estimates for 3Q14 and 4Q14 advertising revenue growth are likely conservative." He now forecasts 10% Y/Y ad growth for both Q3 and Q4, up from prior estimates of 8% and 5%. Consensus is at 10.3% and 8%.

Rubis adds macro trends and company-specific ad trends point to "solid" Q2 results, and thinks the Q2 report could be accompanied by a 2014 guidance hike.

Roughly a quarter of the float was shorted as of June 13.