Market Overview

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

Share:
Related MDRX
Jefferies: 10 Buyout Targets To Own During The M&A Boom
Stifel Sees 'Limited Growth Opportunities' For Allscripts

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bookings are accelerating downward, margins are going nowhere, and the Company attempts to integrate a portfolio of outdated products while embarking on an ambitious release cycle of new products.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
Apr 2015Piper JaffrayUpgradesUnderweightNeutral
Apr 2015Stifel NicolausInitiates Coverage onHold
Mar 2015RW BairdInitiates Coverage onOutperform

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...