UPDATE: Goldman Sachs Resumes Cerner at Buy Rating on Leading EMR Platform
In a report published Tuesday, Goldman Sachs analyst Robert P. Jones resumed coverage on Cerner (NASDAQ: CERN) with a Buy rating and $114.00 price target.
In the report, Goldman Sachs noted, “In our view, CERN's leading EMR platform and breadth of non-EMR offerings offer the best way to gain exposure to the next wave of HCIT industry growth, with some protection from a decelerating EMR market given its attractive positioning in the rip-and-replace cycle. Also, growth of CERN's non-EMR platforms should drive greater service and recurring revenue, with increased revenue visibility worthy of higher valuation. Our 12-month $114 price target implies shares can trade at 33.4X 2014E EPS.”
Cerner closed on Monday at $98.16.
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