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Deutsche Bank Reiterates a 'Buy' on Allscripts-Misys Healthcare (MDRX); Bookings Highlight 3Q, Focus Shifts 'Down Under' for 4Q

November 4, 2011 10:12 AM EDT Send to a Friend
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Price: $14.15 -1.39%

Rating Summary:
    15 Buy, 17 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 25 | New: 14
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Deutsche Bank reiterates a 'Buy' on Allscripts-Misys Healthcare (NASDAQ: MDRX) price target raised $1 to $25.00.

Deutsche analyst says, "We reiterate our rating on MDRX following a solid 3Q beat, highlighted by bookings far above expectations. Core operating results in the quarter were better than consensus, leading to a guidance increase for 4Q. Additionally, the bookings outlook for 4Q was well above DB's estimate, driven by the expected contribution from the South Australia deal (one of the largest in the company's history). With an attractive relative valuation and a robust outlook, we reiterate our rating and increase our PT to $25, and we expect shares to react positively to these results."

"We have slightly tweaked our FY11 EPS from $0.81 to $0.82 (including FAS-123 expenses - $0.93 ex FAS-123 expenses) and our FY12 EPS from $1.03 to $1.04 ($1.16 ex FAS-123 expenses)."

For more ratings news on Allscripts-Misys Healthcare click here and for the rating history of Allscripts-Misys Healthcare click here.

Shares of Allscripts-Misys Healthcare closed at $19.57 yesterday.




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