UPDATE: Auriga Raises Price Target on Quality Systems to $88

According to Auriga, Quality Systems (NASDAQ: QSII) price target is raised to $88.

Auriga said that it is reiterating its HOLD rating on Quality Systems (QSII) following recent channel checks in the ambulatory and inpatient markets, while increasing estimates slightly for FY12 and FY13 (still below consensus). “Our HOLD rating stems from valuation, but moreover is supported by our cautious longer term view with respect to the threat of emerging, lower priced models of EHR delivery, and execution risk as it relates to QSII's foray into new markets.”

Quality Systems closed on Friday at $88.26.