UBS Starts athenahealth (ATHN) at Buy
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UBS initiates coverage on athenahealth (NASDAQ: ATHN) with a Buy rating and a price target of $147.00.
Analyst Michael Cherny commented, "We are initiating coverage on athenahealth with a Buy rating and a $147 price target. ATHN remains one of the fastest growth companies across the HC Tech & Distribution subsector, driven by continued share gains across the core ambulatory market and its early expansion into the hospital market. While overall top-line growth has slowed to the high-teens range, we expect an acceleration as the company builds out its hospital customer base, capitalizing primarily on the critical access market (not assuming any sizable hospital wins). More importantly, this lower growth profile appears already factored into a re-set valuation range, which we think leaves room for upside over time."
Shares of athenahealth closed at $124.95 yesterday.
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