UBS Starts Quality Systems (QSII) at Sell
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UBS initiates coverage on Quality Systems (NASDAQ: QSII) with a Sell rating and a price target of $10.50.
Analyst Michael Cherny commented, "We are initiating coverage on Quality Systems with a Sell rating and a $10.50 price target. QSII is in the midst of a transition after challenges across its core business have led to market share losses and revenue declines. Our main issues with the transition center around the fact that it may be too late to stem the bleeding of the existing customer base, while the new MediTouch platform primarily helps in the small end of the market (highly competitive and smaller total revenue opportunity). On account of this, we view the business as structurally challenged and see further room for downside if attrition continues at its current pace."
Shares of Quality Systems closed at $11.39 yesterday.
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