UPDATE: Stifel Nicolaus Raises PT on Cerner to $72
Stifel Nicolaus is out with its report today on Cerner ((NASDAQ: CERN), raising its PT from $71 to $72.
In its report, Stifel Nicolaus writes, "We continue to believe that Cerner remains the best vehicle for investors in the healthcare IT universe. Given its historical investment in new products and services, we believe our long term growth assumptions are likely to prove conservative. With slightly higher estimates, we are raising our 2012 DCF-based target price slightly from $71 to $72. Our target price assumes long-term growth of 3% and a discount rate of 8.6%."
At the time of posting, shares of CERN were trading at $61.07, down 6.75% from Thursday's close.
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