UPDATE: ISI Group Upgrades Allscripts Healthcare Solution to Overweight on Possible Buyout
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.
Latest Ratings for MDRX
|Aug 2015||Argus Research||Upgrades||Hold||Buy|
|Jun 2015||Oppenheimer||Initiates Coverage on||Perform|
|Apr 2015||Piper Jaffray||Upgrades||Underweight||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.