UPDATE: Sterne Agee Initiates Cerner at Neutral on Valuation

In a report published Wednesday, Sterne Agee analyst Greg T. Bolan initiated coverage on Cerner CERN with a Neutral rating and $100.00 price target.

In the report, Sterne Agee noted, “At this point, we believe Cerner's bookings will grow at to slightly better than mid-teens growth in CY12. While impressive, we believe the current valuation of Cerner's stock reflects our optimistic outlook. Initiate coverage with a Neutral rating and $100 price target.”

Cerner closed on Tuesday at $98.14.