Wells Fargo Starts Cerner (CERN) at Market Perform; Well Positioned, But Shares Reflect Appropriate Premium
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Price: $97.63 +0.63%
Rating Summary:
14 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
14 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade CERN Now!
Wells Fargo initiates coverage on Cerner (NASDAQ: CERN) with a Market Perform. PT range $80-85.
Analyst, Jamie Stockton, said, "The company provides software and services to a core group of about 15% of hospitals (relatively large facilities) in the United States. Slightly less than half of its revenue is estimated to come from seven high-growth platforms that feed off of those core relationships. While we believe bookings comps are likely to get more difficult in H2 2012 and revenue growth is likely to slow in 2013 after a big year for device and equipment resale in 2012, we advise investors to know this story well and be ready for any opportunities to step into a blue chip way to play healthcare or technology."
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 $79.01 yesterday, with a 52 week range of $53.93-$124.99.
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Analyst, Jamie Stockton, said, "The company provides software and services to a core group of about 15% of hospitals (relatively large facilities) in the United States. Slightly less than half of its revenue is estimated to come from seven high-growth platforms that feed off of those core relationships. While we believe bookings comps are likely to get more difficult in H2 2012 and revenue growth is likely to slow in 2013 after a big year for device and equipment resale in 2012, we advise investors to know this story well and be ready for any opportunities to step into a blue chip way to play healthcare or technology."
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 $79.01 yesterday, with a 52 week range of $53.93-$124.99.
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