Allscripts (MDRX) PT Raised to $15 at Piper Jaffray

August 5, 2016 8:10 AM EDT
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Price: $12.48 -2.8%

Rating Summary:
    15 Buy, 20 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Piper Jaffray analyst Sean Wieland reiterated a Neutral rating but bumped his price target on Allscripts (NASDAQ: MDRX) to $15.00 (from $12.00) following record bookings driven by OptumCare win.

Wieland commented, "Allscripts beat bookings with the announcement of a win at OptumCare, a division of OptumHealth, and is the largest ambulatory deal in the company's History. With this deal in the bag, it was a very solid quarter. We are sticking with our 20x target multiple, however rolling it forward to 2017 estimates, and raising our price target to $15."

For an analyst ratings summary and ratings history on Allscripts click here. For more ratings news on Allscripts click here.

Shares of Allscripts closed at $14.27 yesterday.

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