Barclays Maintains an 'Overweight' on Allscripts-Misys Healthcare (MDRX); Down Under now a Done Deal

Barclays maintains an 'Overweight' on Allscripts-Misys Healthcare (NASDAQ: MDRX) price target of $25.00.

Barclays analyst says, "With last night's announcement that South Australia's Public Health System (SA Health) signed the final agreement to deploy Allscripts' Sunrise Enterprise solution across its network of hospitals, we make the following observations: First, this news comes as no surprise given that we have been hearing of this deal for more than a year...Our discussions with management suggest MDRX will see some revenue contribution from the deal beginning in 2012, though we believe this is already baked into the company's anticipated budget for 2012. In addition, we expect management's longer-term outlook of 10-15% top-line revenue growth has already factored in the contribution from the SA Health agreement."

"Our bottom line? We view the final signing of this deal is a positive reflection of Allscripts' expanded international relevance, with SA Health now a key reference account that could contribute to further ex-U.S. bookings longer term."

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

Shares of Allscripts-Misys Healthcare closed at $17.77 yesterday.

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