Deutsche Bank Downgrades Cerner (CERN) to Hold
- Wall Street flat as countdown to Trump's swearing-in begins
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
- CP's (CP) Outgoing CEO Hunter Harrison, Activist Paul Hilal Said Set to Target CSX Corp. (CSX)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Deutsche Bank downgraded Cerner (NASDAQ: CERN) from Buy to Hold with a price target of $50.00 (from $58.00). Analsyt George Hill thinks the Affordable Care Act might be repealed.
"We believe that there is a high likelihood that the Affordable Care Act gets repealed or significantly scaled back, creating uncertainty for provider organizations. As these organizations face a less certain revenue and capex future, we believe that spending on IT is likely to stall until provider organizations know what the next generation set of IT tools needed will look like. Given that outlook, we are downgrading CERN and MDRX shares to Hold given what we expect will be a less certain multi-year outlook for hospital based HCIT spend. While the Ryan plan does call for some investment in medical records, we believe many of these proposals were already covered by the HITECH Act and are unlikely to result in material incremental spending," said Hill.
Shares of Cerner closed at $50.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Barclays Downgrades Cerner (CERN) to Equalweight
- Netflix (NFLX) PT Raised to $165.00 at Oppenheimer
- Goldcorp (GG): Cutting NAV and Price Target - Credit Suisse
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!