UPDATE: Citigroup Reiterates Neutral Rating, Raises PT on Allscripts Healthcare Solutions
In a report published Wednesday, Citigroup reiterated its Neutral rating on Allscripts Healthcare Solutions (NASDAQ: MDRX), and slightly raised its price target from $10.50 to $11.00.
Citigroup noted, “We believe Allscripts faces significant challenges on the product development and sales execution fronts, but many of these challenges are priced into the stock. We are modestly raising our 2012 and 2013 EPS estimates on the company's recent aggressive repurchase of shares. We are not yet ready to get more positive on the shares, but could be in a position to do so if we believe the company can fix its operational issues and restore faith to its customer base.”
Allscripts Healthcare Solutions closed Tuesday at $9.79.
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