In a report released today, Steven Halper from Cantor Fitzgerald maintained a Hold rating on Allscripts (MDRX), with a price target of $12. The company’s shares opened today at $10.61.
Halper commented:
“MDRX shares continue to remain in-line with our DCF-based price target of $12. Key assumptions in our model include mid single-digit revenue growth for the next few years, continued margin improvement, and WACC of 8.50%. While core performance appears to be improving, the EIS acquisition should result in stronger EPS growth, at least in the 2018-2019 time frame. Accordingly, we rate the shares at Neutral. Valuation Summary Our DCF model suggests the shares are worth about $12 per share, or about 11% above current levels.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 16.6% and a 60.6% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Allscripts with a $13.33 average price target, implying a 25.6% upside from current levels. In a report issued on January 4, Maxim Group also assigned a Hold rating to the stock.
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The company has a one-year high of $16.13 and a one-year low of $8.54. Currently, Allscripts has an average volume of 2.48M.
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Allscripts Healthcare Solutions, Inc. engages in the provision of clinical, financial, connectivity, information solutions, and related professional services. It operates through the following segments: Clinical and Financial Solutions; Population Health; and Netsmart.
