UBS Starts Allscripts (MDRX) at Buy
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UBS initiates coverage on Allscripts (NASDAQ: MDRX) with a Buy rating and a price target of $17.00.
Analyst Michael Cherny commented, "We are initiating coverage on Allscripts with a Buy rating and a $17 price target. MDRX remains in the midst of a multi-year turnaround, including repositioning the go-tomarket strategy as well as right-sizing the cost base. While the MDRX of today is far different to the company 3 years ago (early in Paul Black’s tenure), shares trade at roughly the same level, giving no credit for the strategic improvements the company has made."
Shares of Allscripts closed at $13.04 yesterday.
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