Oppenheimer Starts Allscripts (MDRX) at Perform

Oppenheimer initiates coverage on Allscripts (NASDAQ: MDRX) with a Perform rating.

Analyst Mohan Naidu commented, "Allscripts has come a long way under the new leadership. The customer base appears to be stabilized, the competitiveness of its Sunrise platform has improved significantly and attrition risk seems subdued. But limited footprint expansion opportunities in the market make us concerned about growth. Although we are encouraged by the recent Sunrise wins, new inpatient deal flow continues to be lopsided with the two leading vendors in the market. System sales are likely to recovery from the historically low levels given the recent bookings and backlog, but a significant portion of the company's growth has to come from value-added solutions to existing customers. Initiating with Perform rating."

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 $14.49 yesterday.

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