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.
Latest Ratings for CERN
|Sep 2016||Bank of America||Initiates Coverage on||Buy|
|Sep 2016||Cowen & Co.||Downgrades||Outperform||Market Perform|
|Aug 2016||Stifel Nicolaus||Assumes||Hold|
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