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Citi Reiterates Sell on Athenahealth

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Citi reiterated its Sell rating on Athenahealth (NASDAQ: ATHN) after a meeting with the company's management.

In a research report published today, Citi states, "Our meeting... reinforced our belief that in the near term hospitals will resist this painful change, which could slow the development of the Athena enterprise sales pipeline. A lack of enterprise sales could lead to disappointing utilization trends and negative revisions."

At the moment, Citi has a price target of $40 placed on the company's stock. On Friday, the company lost 1.69% of its value to close the week at $42.01.

 

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