UPDATE: Jefferies Upgrades Cerner to Buy on Pullback
Jefferies & Company raised its rating on Cerner (NASDAQ: CERN) from Hold to Buy and increased its price target from $80 to $82.
Jefferies & Company commented, "On initiation, our hesitation was the stock's high valuation, combined with some very high expectations (i.e. >$1B in 4Q bookings). We thought a 10% pullback in the stock around 3Q12 was possible, as those expectations cooled somewhat. We got more than that. The 14% pullback in three weeks and an 11% stronger bookings guide combine to make a more compelling entry point in CERN."
Cerner closed at $68.47 on Thursday.
Latest Ratings for CERN
|Jan 2017||Cantor Fitzgerald||Initiates Coverage On||Overweight|
|Dec 2016||Morgan Stanley||Downgrades||Equal-Weight||Underweight|
|Dec 2016||Leerink Swann||Downgrades||Outperform||Market Perform|
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