Allscripts (MDRX) Gives Bulls Some Hope, PT Raised - Jefferies

February 20, 2013 10:30 AM EST
Get Alerts MDRX Hot Sheet
Price: $11.40 +1.60%

Rating Summary:
    13 Buy, 23 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 19 | New: 11
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Jefferies boosted its price target on Allscripts (NASDAQ: MDRX) from $10 to $11.50 despite weak Q4 results, which were mitigated by encouraging bookings, up sequentially though still down 45% YoY. The firm maintained a Hold rating.

"A sizable inpatient cross-sell, and a new inpatient win (both in 1Q13) will give some bulls hope," the analyst comments. "The new management team already has several efficiency-focused initiatives in place. We will remain on the sidelines pending improved EPS visibility."

The firm trimmed FY13 EPS from $0.81 to $0.74 and FY14 EPS from $0.93 to $0.85.

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 $11.18 yesterday.

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