Leerink Partners Upgrades Allscripts (MDRX) to Outperform; Core Fundamentals Improving
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Leerink Partners upgraded Allscripts (NASDAQ: MDRX) from Market Perform to Outperform with a price target of $17.00 (from $16.00), saying the core fundamentals are improving significantly.
Analyst David Larsen commented, "We are upgrading shares of MDRX to OP. We believe that the core fundamentals of Allscripts are improving significantly as evidenced by TouchWorks and Sunrise ranking #1 in Black Book in 2016, our channel checks through MEDACorp and other sources have come back positive, bookings have grown consistently on a y/y basis in 6 of the past 6 quarters, we expect adjusted EPS to grow by over 20% y/y in 2016E and 2017E, and we believe that MDRX is becoming a more attractive acquisition candidate. In our view the recent deal with Optum shows that the quality of the product and longer-term vision of MDRX have improved substantially over the past few years. Upgrade to Outperform, PT to $17 (from $16).
Shares of Allscripts closed at $12.68 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- UPDATE: JPMorgan Upgrades American Express (AXP) to Overweight
- Needham & Company Raises Price Target on Cornerstone OnDemand (CSOD) Following Industry Checks
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesDefinitive Agreement
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!