UPDATE: Sterne Agee Initiates Cerner at Neutral on Valuation
In a report published Wednesday, Sterne Agee analyst Greg T. Bolan initiated coverage on Cerner (NASDAQ: 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.
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