UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Allscripts Healthcare Solutions
In a report published Friday, Jefferies & Company reiterated its Hold rating on Allscripts Healthcare Solutions (NASDAQ: MDRX), but lowered its price target from $13.00 to $10.00.
Jefferies noted, “This morning's call revealed few additional details of the bidding process and outcome. Deal will not bail investors out of this name in 2012. MDRX's new management seems intent on executing the existing strategy: offering an integrated solution and building out its service portfolio. After today's trading the stock is cheap, but we would like to see evidence of traction to ensure EBITDA doesn't shrink further.”
Allscripts Healthcare Solutions closed on Thursday at $9.14.
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