Piper Jaffray Upgrades Allscripts (MDRX) to Neutral

Piper Jaffray upgraded Allscripts (NASDAQ: MDRX) from Underweight to Neutral with a price target of $12.00 (from $9.00), saying incrementally positive news could be forthcoming which will co a long way to improve sentiment.

Analyst Sean Wieland commented, "Sentiment can shift faster than fundamentals (in both directions), and we believe any incrementally positive news will improve sentiment and possibly send MDRX shares higher. We believe we could see incrementally positive news with regard to new Sunrise footprints and/or encouraging commentary on the pipeline. However, these positives are offset by further Sunrise losses (UC Irvine) and continued market-share attrition on the Ambulatory Side. The risk/reward is less favorable on the short side, so we are upgrading shares to Neutral from Underweight and raising our PT to $12 from $9."

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

Shares of Allscripts closed at $12.59 yesterday.

You May Also Be Interested In

• Deutsche Bank Upgrades MSCI Inc. (MSCI) to Buy, 'Compelling entry point for long-term investors'
• Texas Instruments (TXN) PT Raised to $225 at Evercore ISI
• American Express (AXP) PT Raised to $255 at Evercore ISI