Topeka Capital Starts Cerner (CERN) at Buy

Topeka Capital initiates coverage on Cerner (NASDAQ: CERN) with a Buy rating and a price target of $58.00.

Analyst Eugene Mannheimer said, "This stalwart in healthcare IT occupies a dominant presence alongside its primary competitor Epic (private) in the hospital space, and in our view is leading the charge in the emerging “population health” arena through its largely internally developed offerings in partnership with some of healthcare’s thought leaders. We see multiple avenues to growth, including a replacement market, expansion of its vast EHR footprint with pop health and analytics tools, large revenue opportunities in the outsourcing/hosting realm, and international growth. Revenue should continue to grow double digits through 2020 with good margin expansion driving high-teens earnings growth."

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

Shares of Cerner closed at $51.70 yesterday.

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