Wells Fargo Starts Allscripts (MDRX) at Market Perform; Long-term Growth Prospects Muted
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Price: $6.81 --0%
Rating Summary:
8 Buy, 19 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
Rating Summary:
8 Buy, 19 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
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Wells Fargo initiates coverage on Allscripts (NASDAQ: MDRX) with a Market Perform. PT range $10-12.
Analyst, Jamie Stockton, said, "The company provides software/services to about 24% of physicians working in a practice and about 5% of hospitals. Poor-quality software releases and disruptions in the company's sales/support organization drove a material March quarter miss. Management and board turnover have also been severe. While we believe trends are likely to improve as 2012 progresses, our long-term growth outlook suggests the shares are fairly valued. Strategic alternatives could see $14-16, but are unlikely near term."
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 $10.99 yesterday.
Analyst, Jamie Stockton, said, "The company provides software/services to about 24% of physicians working in a practice and about 5% of hospitals. Poor-quality software releases and disruptions in the company's sales/support organization drove a material March quarter miss. Management and board turnover have also been severe. While we believe trends are likely to improve as 2012 progresses, our long-term growth outlook suggests the shares are fairly valued. Strategic alternatives could see $14-16, but are unlikely near term."
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 $10.99 yesterday.
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