UBS Starts Cerner (CERN) at Neutral
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UBS initiates coverage on Cerner (NASDAQ: CERN) with a Neutral rating and a price target of $66.00.
Analyst Michael Cherny commented, "We are initiating coverage on Cerner with a Neutral rating and a $66 price target. CERN remains the key market share winner across enterprise healthcare IT, sustaining growth through replacements as well as cross-selling into its sizable customer base. The company is also attacking the shift towards population health management, utilizing its data set to create advanced analytics and connectivity capabilities. While we continue to view CERN as a structural winner, the recent recovery following a challenging 2015/early-2016 leaves limited near-term upside potential to our fair value estimates."
Shares of Cerner closed at $61.25 yesterday.
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