New York, April 2 (FinanceEnquiry.com) – Analysts at Bank of America downgrade their rating on the shares of eHealth Inc (NASDAQ: EHTH) from BUY to NEUTRAL. The 12-month target price has been reduced from $19 to $18.
In a research note published today, the analysts state that the rating is lowered on the basis of greater uncertainty around the Supreme Court decision regarding the Affordable Care Act (ACA). The BUY rating was declared on the basis of thesis that the individual mandate and subsidies will be more-than-double the market opportunity of the company in 2014, the analysts add.
As extra information regarding the trial is released and the analysts have become more doubtful about the survival of the individual mandate. The Court’s decision is expected in June.
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Shares of the company grew more...