UPDATE: Jefferies Raises PT on Cerner Corporation on Solid 4Q Bookings
In a report published Wednesday, Jefferies reiterated its Buy rating on Cerner Corporation (NASDAQ: CERN), and raised its price target from $82.00 to $97.00.
Jefferies noted, “Bookings were the highlight of 4Q at >$1B and above expectations. 1Q13 guidance sets the stage for robust growth this year. 4Q12 earnings were solidly in line, after adjusting for two below-the-line items. Margin improvement should accelerate in 2013 as the impact of device re-sales moderates. Cerner's industry-leading commitment to R&D positions it well to continue winning market share from its competitors.”
Cerner Corporation closed on Tuesday at $83.60.
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