Sterne Agee Resumes Coverage on Allscripts Healthcare Solutions with Buy Rating, $17 PT on Continued Long-Term Turnaround

In a report published Wednesday, Sterne Agee analyst Greg T. Bolan resumed coverage on Allscripts Healthcare Solutions MDRX with a Buy rating and $17.00 price target. In the report, Sterne Agee noted, “We believe Allscripts is in the 3rd inning of a long-term turnaround. The company has reshuffled executive leadership, rightsized-(ing) its organization, launched major product upgrades, and scuttled legacy ambulatory products. With a void only filled by two major players within the integrated acute-ambulatory clinical marketplace, we think Allscripts is retooling its organization to be a formidable third player. Re-initiating with Buy rating and $17 price target.” Allscripts Healthcare Solutions closed on Tuesday at $13.75.