UPDATE: Morgan Stanley Downgrades Cerner Corporation to Equal-Weight on Bookings Deceleration
Morgan Stanley reduced its rating on Cerner Corporation (NASDAQ: CERN) from Overweight to Equal-weight and removes its prior price target of $82.
Morgan Stanley commented, "Challenging y/y comparisons, associated with approaching deadlines for attesting to Stage 1 Meaningful Use, should lead to slower bookings growth by 2013. With shares trading at a premium to historical valuation and to the broader software group, we see limited upside potential in the near-term."
Cerner Corporation closed at $73.75 on Thursday.
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