UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Allscripts Healthcare Solutions
In a report published Friday, Jefferies & Company reiterated its Hold rating on Allscripts Healthcare Solutions (NASDAQ: MDRX), and raised its price target from $10.50 to $13.00.
Jefferies noted, “Dismal 3Q results were attributed to customer hesitation on MDRX's a) corporate future and b) NT product future. The acknowledgment of a deal process puts a floor in the stock. Maybe even drives some upside. Many long-awaited releases go GA this month, but NT impact on bookings is questionable. 2012 guidance was withdrawn. A lower go-forward tax rate and share count offset nearly all of our reduction in 2013 pre-tax income.”
Allscripts Healthcare Solutions closed on Thursday at $12.26.
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