athenahealth (ATHN) PT Raised to $140 at Cantor Fitzgerald; Reiterates Overweight
Cantor Fitzgerald raised its price target on athenahealth (NASDAQ: ATHN) to $140.00 (from $118.00) while maintaining a Overweight rating. Elliot Associates announced a 9.2% economic interest in athenaHealth. Analyst Steven Halper expects Elliot to focus management on improving operations rather than an outright sale of the company.
Given the filing by Elliot, ATHN shares rose by more than 22% on Thursday. The primary change to long-term operating assumptions is a faster margin expansion, as Cantor believes that management will eventually implement a more-prudent investment strategy.