Market Overview

UPDATE: ISI Group Upgrades Allscripts Healthcare Solution to Overweight on Possible Buyout

Related MDRX
Market Wrap For March 14: Ukraine Tension Drag Markets Lower
UPDATE: Morgan Stanley Reiterates on Allscripts Healthcare Solutions as Momentum will Continue in 2014

ISI Group raised its rating on Allscripts Healthcare Solution (NASDAQ: MDRX) from Market-weight to Overweight and increased its price target to $14.50.

ISI Group noted, "Late Friday, Bloomberg released a story that Allscripts is exploring a sale of the company and is in talks with private equity about a potential buyout. According to an unnamed source (“someone familiar with the matter”) MDRX has been in talks with several private equity firms and MDRX has hired advisors for a potential sale. Also according to the source, MDRX still may not sell the business. Based on this release, with a 50% probability for a deal (with an LBO valuation of $16.50) and a standalone base valuation of $12.50 (~13x FY13 P/E), we have upgraded shares to Overweight and increased our PT to $14.50."

Allscripts Healthcare Solutions closed at $12.42 on Friday.

Posted-In: ISI GroupAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (MDRX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free