Jefferies Starts Cerner (CERN) at Hold

Jefferies initiates coverage on Cerner (NASDAQ: CERN) with a Hold rating and $80 price target.

The firm comments, "Our proprietary survey work and conversations with industry contacts suggest domestic HCIT bookings will peak in 2012—at least temporarily. Cerner is one of the highest quality HIT vendors, and likely bucks this trend via (1) market share gains, (2) further penetrating existing clients, and (3) international expansion. Even so, its growth will also slow. Our Hold is based on NT bookings-related concerns, and a "full" current valuation."

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 $79.68 yesterday.

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