Market Overview

B. Riley & Co.'s Mannheimer Says Cerner Deal with Intermountain is 'Huge'

Related CERN
Watch These 7 Huge Put Purchases In Thursday Trade
Benzinga's Option Alert Recap From July 12

Shares of Cerner (NASDAQ: CERN) are now up more than 6.5 percent following a release from the company disclosing a strategic partnership with Intermountain. Cerner shares last traded at $53.33.

B. Riley & Co.'s Gene Mannheimer had some exclusive comments for Benzinga.

While the release didn't necessarily highlight the potential value of the contract, Mannheimer called the deal "huge" for Cerner. He noted Intermountain as a "pioneer" in the space and called the account Cerner will be handling "prestigious." Mannheimer highlighted the sheer magnitude of the relationship, pointing out Intermountain operates a chain of 22 hospitals.

The B. Riley analyst underscored the fact that Cerner beat out Epic for the contract -- a company which he said was recently beginning to be viewed as likely to win any contract up for grabs.

The contract could be valued at a couple hundred million dollars when closed later this year, according to Mannheimer.

B. Riley & Co. currently maintains a Neutral rating and $46 price target on shares of Cerner.

Latest Ratings for CERN

May 2017Hilliard LyonsDowngradesLong-Term BuyNeutral
Feb 2017CitigroupDowngradesBuyNeutral
Feb 2017Avondale PartnersDowngradesMarket OutperformMarket Perform

View More Analyst Ratings for CERN
View the Latest Analyst Ratings

Posted-In: Analyst Color News Analyst Ratings Movers Trading Ideas Interview


Related Articles (CERN)

View Comments and Join the Discussion!