UPDATE: Sterne Agee Downgrades athenahealth to Underperform on Move Away From the Cloud

Sterne Agee reduces its rating on athenahealth ATHN from Neutral to Underperform and lowers its price target from $71 to $68. Sterne Agee says, "Our downgrade rests on the belief that ATHN's ability to expand margins will be hampered by the increasing labor costs necessary to handle a growing installed base on , thus suppressing margin expansion going forward." ATHN closed at $85.44 on Tuesday.