Canaccord Genuity Raises Price Target on Athenahealth (ATHN) Following Summit

Canaccord Genuity reiterated a Hold rating on athenahealth (NASDAQ: ATHN), and raised the price target to $112.00 (from $104.00), in a post-summit update. Discussions with several sales and account management team members regarding the Streamline migration provided positive feedback.

A Canaccord analyst commented, "We reiterate our HOLD rating and increase our price target to $112 (from $104). Once again, we left last week's Summit believing that ATHN single-instance platform is quite differentiated from its competition. While our previous concerns regarding the Streamline migration have been tempered, we continue to struggle with employee engagement, customer satisfaction, and declining net promoter score. Until we see these metrics improve via the quarterly Scorecard, we remain in a wait-and-see mode for the near-term."

For an analyst ratings summary and ratings history on athenahealth click here. For more ratings news on athenahealth click here.

Shares of athenahealth closed at $110.74 yesterday.

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