Auriga Reiterates a 'Buy' on Cerner (CERN) on Strong Q4 Results, But Cutting PT to $72
Tweet
Share
E-mailGet Alerts CERN Hot Sheet
Price: $94.92 --0%
Rating Summary:
8 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Auriga reiterates a 'Buy' on Cerner (NASDAQ: CERN) price target lowered from $75 to $72.
Auriga analyst said, "We are reiterating our rating on CERN following strong Q4 results in which revenue, EPS and bookings each exceeded expectations. Importantly, Q4 bookings exceeded the top end of Cerner's guidance by $200MM as some large contracts drove the upside. Equally reassuring was the Company's FY12 initial guidance which brackets consensus and our estimates. Despite what we expect to be some gross margin compression from medical device resale, we still anticipate continued operating margin leverage for the foreseeable future. While not inexpensive, we maintain that CERN is the publicly-held stalwart in the space based on market positioning. Our initial FY13 EPS estimates imply 20% year-year growth, which is the driver of our price target reduction."
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 $62.57 yesterday.
Auriga analyst said, "We are reiterating our rating on CERN following strong Q4 results in which revenue, EPS and bookings each exceeded expectations. Importantly, Q4 bookings exceeded the top end of Cerner's guidance by $200MM as some large contracts drove the upside. Equally reassuring was the Company's FY12 initial guidance which brackets consensus and our estimates. Despite what we expect to be some gross margin compression from medical device resale, we still anticipate continued operating margin leverage for the foreseeable future. While not inexpensive, we maintain that CERN is the publicly-held stalwart in the space based on market positioning. Our initial FY13 EPS estimates imply 20% year-year growth, which is the driver of our price target reduction."
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 $62.57 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Petronet LNG Ltd. (PLNG:IN) PT Raised to INR310 at ICICI Securities
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT ChangeRelated Entities
AurigaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
