UPDATE: Baird Starts Cerner (CERN) at Neutral

Baird analyst Vikram Kesavabhotla initiates coverage on Cerner (NASDAQ: CERN) with a Neutral rating and a price target of $82.00.

The analyst comments "CERN holds an important place in this sector given its large footprint, profitability, and FCF generation. There are many compelling initiatives taking place as CERN attempts to create a more efficient business. While there are reasons to be encouraged, we also acknowledge the uncertainty associated with achieving these goals and navigating a management transition. Coupled with a maturing core business and mixed historical performance influencing sentiment, we expect the shares to remain relatively range-bound as investors assess progress over coming quarters."

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 $73.91 yesterday.

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