UPDATE: ISI Group Initiates Allscripts Healthcare Solutions with Market Weight, $11 PT on Product Development Overhang
ISI Group initiated its coverage on Allscripts Healthcare Solutions (NASDAQ: MDRX) with a rating of Market Weight and a price target of $11.
ISI Group noted, "Our thesis for MDRX is based on continued issues related to product development efforts and the overhang that this creates on bookings growth, the potential for renewed cross-sell opportunities following the product revamp, and the trade-off between cost synergies and increased R&D spending limiting margin expansion opportunities. However, with the recent sell-off in the stock, we think that the appropriate risk level is assumed in valuation and MDRX continues to have one of the largest installed bases in the market."
Allscripts Healthcare Solutions closed at $10.21 on Wednesday.
Latest Ratings for MDRX
|Jun 2015||Oppenheimer||Initiates Coverage on||Perform|
|Apr 2015||Piper Jaffray||Upgrades||Underweight||Neutral|
|Apr 2015||Stifel Nicolaus||Initiates Coverage on||Hold|
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