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UPDATE: Jefferies Upgrades Cerner to Buy on Pullback

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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

DateFirmActionFromTo
Dec 2016Leerink SwannDowngradesOutperformMarket Perform
Nov 2016Bank of AmericaDowngradesNeutralUnderperform
Nov 2016BairdDowngradesOutperformNeutral

View More Analyst Ratings for CERN
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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