Jefferies Upgrades Allscripts (MDRX) to Buy

Jefferies upgraded Allscripts (NASDAQ: MDRX) from Hold to Buy with a price target of $21.00.

Analyst David Windley said, "We believe Allscripts is approaching an inflection in revenue performance in the near-term. The new management team has done a commendable job of: 1) putting value-added tools in the product portfolio (via acquisition in some cases) that meet clients’ current (patient engagement) and near-term future (interoperability) needs; 2) addressing cost structure; and 3) reassuring the client base of the company’s investment and commitment in its products. We expect progress on those fronts to deliver revenue and EBITDA growth at the high end of management’s 3-year targets, and likely better."

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 $16.60 yesterday.

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