UPDATE: Credit Suisse Raises PT on Cerner on Margin/Earnings Upside
In a report published Friday, Credit Suisse analyst Glen Santangelo reiterated a Neutral rating on Cerner Corporation (NASDAQ: CERN), and raised the price target from $88.00 to $95.00.
In the report, Santangelo noted, “CERN reported $0.66 vs. FactSet consensus of $0.63. At the risk of sounding like a broken record, CERN reported better than expected bookings, solid operating metrics and strong cash flow, although we would note that a lower than expected tax rate contributed $0.02 to the quarter. Management tone remains bullish on the long-term market opportunity for market share shifts and continued growth as providers & payers grapple with upcoming mandates. From this evening's conference call it is clear that management is intent on furthering CERN's competitive advantages and building upon its analytics/population health & Works platforms leveraging both the company's internal resources/R&D team as well as third party developers.”
Cerner Corporation closed on Thursday at $91.66.
Latest Ratings for CERN
|Jun 2015||Oppenheimer||Initiates Coverage on||Outperform|
|Apr 2015||SunTrust Robinson Humphrey||Downgrades||Buy||Neutral|
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