UPDATE: Sterne Agee Reiterates Neutral Rating, Raises PT on Quality Systems
In a report published Monday, Sterne Agee Group reiterated its Neutral rating on Quality Systems (NASDAQ: QSII), and raised its price target from $14.00 to $17.00.
Sterne Agee noted, “QSII trades at a significant discount to the peer group, highlighting the uncertainties surrounding the company's outlook following management churn and below par financial performance in 2012. Our revised $17 price target is based on 6x our CY14 EBITDA estimate of $143 million. The average FY2 EV/EBITDA multiple over the past 10 years is 12x. Should we identify operational improvement in QSII's core business, we would reevaluate our thinking on the stock.”
Quality Systems closed on Friday at $17.90.
Latest Ratings for QSII
|Jan 2017||Cantor Fitzgerald||Initiates Coverage On||Neutral|
|Dec 2016||Dougherty||Initiates Coverage On||Neutral|
|Nov 2016||Raymond James||Downgrades||Outperform||Market Perform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.