Deutsche Bank Downgrades Cerner (CERN) to Hold
- Health, tech stocks extend Wall Street record-setting rally
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium 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 Analsyt George Hill thinks the Affordable Care Act might be repealed.
"We believe that there is a high likelihood that the Affordable Care Act gets repealed or significantly scaled back, creating uncertainty for provider organizations.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
- Broadcom (AVGO) PT Raised to $215 at Oppenheimer
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
- Finisar (FNSR) PT Raised to $44 at Needham & Company, Estimates Raised Sharply
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!