Market Overview

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

Share:
Related CERN
Lightning Round: Jim Cramer Likes Blackstone, UnitedHealth
5 Biggest Price Target Changes For Tuesday
US Stock Markets Rise to All-Time High on Black Friday (GuruFocus)

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

DateFirmActionFromTo
Nov 2017RBC CapitalDowngradesTop PickOutperform
Oct 2017BairdUpgradesNeutralOutperform
Oct 2017JP MorganDowngradesOverweightNeutral

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!

Partner Center