Cerner (CERN) PT Raised to $49 at Morgan Stanley

Morgan Stanley analyst Ricky Goldwasser raised the price target on Cerner (NASDAQ: CERN) to $49.00 (from $47.00) while maintaining an Underweight rating. CERN traded up 10.3% after providing near-term operating margin goals,
introducing a $1.5B share buyback, and revamping its board.

Morgan Stanley's new 2019 EPS estimate of $2.61 (from $2.55) is within management's guided range of $2.57-$2.67 (given on 4Q earnings), and compares to consensus of $2.63. New 2020 EPS estimate is $3.00 (from $2.69) versus consensus of $2.95.

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