Market Overview

UPDATE: Piper Jaffray Downgrades Allscripts Healthcare Solutions to Underweight on Weak Results

Share:
Related MDRX
Allscripts Expands Patient Admin System, Signs Two new PAS Clients
13F Watch: Krevlin's Glenhill Advisors Buys Pier 1, Nexstar; Slashes American Airlines, Jamba
Internet ready to go to health (Investor's Business Daily)

Piper Jaffray reduced its rating on Allscripts Healthcare Solutions (NASDAQ: MDRX) from Neutral to Underweight and lowered its price target from $12 to $7.

Piper Jaffray commented, "We are downgrading to UW given bookings are accelerating downward, margins are going nowhere, and the Company attempts to integrate a portfolio of outdated products while embarking on an ambitious release cycle of new products. About the best one can hope for from here is a takeout, which we still don't think is enough of a reason to support owning the shares. We estimate $15 is the best-case scenario on a takeout (2x EV/Rev). We think the risk/reward supports an Underweight rating and $7 target."

Allscripts Healthcare Solutions closed at $12.26 on Thursday.

Latest Ratings for MDRX

DateFirmActionFromTo
Jun 2015OppenheimerInitiates Coverage onPerform
Apr 2015Piper JaffrayUpgradesUnderweightNeutral
Apr 2015Stifel NicolausInitiates Coverage onHold

View More Analyst Ratings for MDRX
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (MDRX)

Around the Web, We're Loving...

Get Benzinga's Newsletters