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
|Jun 2015||Oppenheimer||Initiates Coverage on||Outperform|
|Apr 2015||SunTrust Robinson Humphrey||Downgrades||Buy||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.