UPDATE: Auriga Raises PT on Cerner to $75

Auriga is out with its report today on Cerner

, raising its PT from $72 to $75. In its report, Auriga writes, "Cerner and privately held Epic dominate the healthcare IT market in our view. Meanwhile Cerner's strong medical device connectivity, while a lower margin business, leads the industry and is an important driver to revenue growth. CERN is an expensive stock, but deservedly so. We think there is a little more to go as we increase our target to $75, from $72 on higher out-year estimates. We stand behind the name while acknowledging the premium valuation, and have greater conviction on dips." Shares of CERN closed Thursday at $65.49, down 0.73% from Wednesday's close.