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Morgan Stanley Maintains on Allscripts Healthcare Solutions

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In a report published Wednesday, Morgan Stanley analyst Julie Murphy maintained an Overweight rating on Allscripts Healthcare Solutions (NASDAQ: MDRX), raising its price target to $20.00 from $17.00.

According to the report, following the previous Morgan Stanley note “What a Difference a Year Makes! Turnaround Thesis Validated” published this morning, analysts are updating model estimates and price target for MDRX.

“Our PT is based on a 2.7x EV/Sales multiple, the 2-yr avg FY1 multiple for MDRX pre-April 2012 (prior to the strategic alternatives upheaval seen that year) applied to our base case 2015 revenue est of $1,523M,” the report noted. “Our bull case valuation of $23 reflects a 2.9x EV/Sales multiple (3-yr avg multiple pre-April 2012) applied to our bull case 2015 revenue estimate of $1607M. Our bear case valuation of $14 is based on a 2.0x multiple (3-yr avg multiple) applied to our bear case 2015 revenue estimate of $1,471M.”

MDRX closed Tuesday at $15.52 with shares trading up at 2.51 percent.

Latest Ratings for MDRX

DateFirmActionFromTo
Jun 2017Leerink SwannDowngradesOutperformMarket Perform
May 2017Bank of AmericaInitiates Coverage OnNeutral
Mar 2017Wells FargoUpgradesMarket PerformOutperform

View More Analyst Ratings for MDRX
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