Auriga Upgrades Cerner (CERN) to Buy
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Price: $94.92 --0%
Rating Summary:
8 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 6 | New: 22
Rating Summary:
8 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 6 | New: 22
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Auriga upgraded Cerner (NASDAQ: CERN) from Hold to Buy and raised their price target form $105 to $121.
The firm comments, "Recent checks from last month's HIMSS conference combined with our interpretation of the Company's long-term strategy at its Analyst Day last week each contribute to our positive incremental view. Importantly, we find Cerner in a sweet spot both domestically and globally. Our checks reveal significant new footprints pending internationally and believe the Company's global lead is leaps ahead of anyone else. Closer to home, despite the "saturation" of clinical systems penetration throughout the nation's 5000 hospitals, the replacement market has never been more active due to the quest for meaningful use and requirements to upgrade systems. CERN and Epic (private) are well out in front in this race. Our new target is based on an average of forward EV/EBITDA and discounted cash flow."
For more ratings news on Cerner click here and for the rating history of Cerner click here.
Shares of Cerner closed at $103.20 yesterday.
The firm comments, "Recent checks from last month's HIMSS conference combined with our interpretation of the Company's long-term strategy at its Analyst Day last week each contribute to our positive incremental view. Importantly, we find Cerner in a sweet spot both domestically and globally. Our checks reveal significant new footprints pending internationally and believe the Company's global lead is leaps ahead of anyone else. Closer to home, despite the "saturation" of clinical systems penetration throughout the nation's 5000 hospitals, the replacement market has never been more active due to the quest for meaningful use and requirements to upgrade systems. CERN and Epic (private) are well out in front in this race. Our new target is based on an average of forward EV/EBITDA and discounted cash flow."
For more ratings news on Cerner click here and for the rating history of Cerner click here.
Shares of Cerner closed at $103.20 yesterday.
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