Jefferies Lifts Numbers on Cerner (CERN); Strong Bookings
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Price: $96.02 -0.24%
Rating Summary:
14 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 17 | New: 29
Rating Summary:
14 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 17 | New: 29
Trade CERN Now!
Jefferies raised its price target on Buy-rated Cerner (NASDAQ: CERN) from $82 to $97 following Q4 results with bookings over $1 billion above expectation.
The firm comments, "Bookings were the highlight of 4Q at >$1B and above expectations. 1Q13 guidance sets the stage for robust growth this year. 4Q12 earnings were solidly in line, after adjusting for two below-the-line items. Margin improvement should accelerate in 2013 as the impact of device re-sales moderates. Cerner's industry-leading commitment to R&D positions it well to continue winning market share from its competitors."
The firm trimmed Q1 EPS est. from $0.64 to $0.63, but raised FY13 from $2.77 to $2.80 and FY14 from $3.27 to $3.30.
For an analyst ratings summary and ratings history on Cerner click here. For more ratings news on Cerner click here.
Shares of Cerner closed at $83.60 yesterday, with a 52 week range of $62.12-$88.32.
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The firm comments, "Bookings were the highlight of 4Q at >$1B and above expectations. 1Q13 guidance sets the stage for robust growth this year. 4Q12 earnings were solidly in line, after adjusting for two below-the-line items. Margin improvement should accelerate in 2013 as the impact of device re-sales moderates. Cerner's industry-leading commitment to R&D positions it well to continue winning market share from its competitors."
The firm trimmed Q1 EPS est. from $0.64 to $0.63, but raised FY13 from $2.77 to $2.80 and FY14 from $3.27 to $3.30.
For an analyst ratings summary and ratings history on Cerner click here. For more ratings news on Cerner click here.
Shares of Cerner closed at $83.60 yesterday, with a 52 week range of $62.12-$88.32.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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