WR Hambrecht Tags Mediconsult With Market Outperform Label (MCNS)
Newstraders - February 14, 2000 14:36
NewsTraders.com)--WR Hambrecht + Co. analyst Josh Fisher, who initiated coverage on Mediconsult (MCNS) in November, assigned the stock an investment rating for the first time today, labeling it at "market outperform" with a $15 price goal.
Fisher reiterated his opinion that with the acquisition of Physicians Online, Mediconsult should be able to maximize the effectiveness of pharmaceutical promotions by improving physician-patient communications, thereby positioning itself to capture an increasing share of online healthcare marketing dollars.
Looking ahead, the analyst increased his 2000 and 2001 revenue estimates on the online health information provider to $30 million and $61.5 million, up from $18.2 million and $31.1 million, respectively.
Stock in New York-based Mediconsult was higher by $0.88 at $6.75.
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