WELL Health is still a double, Haywood says In a research update to clients January 25, Tucci maintained his “Buy” rating and one-year price target of $8.50 on WELL.
The analyst thinks WELL will post Adjusted EBITDA of $112.9-million on revenue of $760.8-million in fiscal 2023. He expects those numbers will improve to Adjusted EBITDA of $132.2-million on a topline of$901.5-million in fiscal 2024.
“Our $8.50 DCF-based price target implies a 2.7x EV/Revenue and 18.3x EV/EBITDA multiple on our 2024 estimates,” Tucci concluded. “WELL is currently trading at 1.4x/9.5x, EV/Revenue and EV/EBITDA multiple, respectively, on our 2024 estimates, versus its healthcare services peer average of 1.3x/8.9x and healthcare technology peer average of 3.1x/13.0x, respectively.”