Jefferies Lifts Numbers on Cerner (CERN); Strong Bookings

February 6, 2013 7:34 AM EST Send to a Friend
Get Alerts CERN Hot Sheet
Price: $58.30 -1.49%

Rating Summary:
    25 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 24
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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.


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