Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Open Text (NASDAQ:OTEX) and Cerner Corp (NASDAQ:CERN).
Open Text (OTEX)
RBC Capital analyst Paul Treiber reiterated a Buy rating on Open Text today and set a price target of $45. The company’s shares closed yesterday at $37.76.
Treiber has an average return of 16.1% when recommending Open Text.
According to TipRanks.com, Treiber is ranked #313 out of 4853 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Open Text with a $44.67 average price target, which is a 18.3% upside from current levels. In a report issued on July 24, Industrial Alliance Securities also maintained a Buy rating on the stock with a $40 price target.
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Cerner Corp (CERN)
Oppenheimer analyst Mohan Naidu maintained a Hold rating on Cerner Corp today. The company’s shares closed yesterday at $62.97.
Naidu wrote:
“Cerner’s quarter was highlighted by the exceptional bookings performance at $1.78B that beating our $1.5B estimate. Management noted that even without VA contribution, bookings would have been above guidance due to strong performance across- the-board with 48 contracts over $5M value. More bookings from VA is likely to lift bookings sporadically but underlying strength in the non-Federal business is very encouraging as well. Lumeris partnership will provide new growth potential given hospitals’ focus on value-based models and the necessity to engage solutions to make the transition from the current FFS. This partnership will provide long- term growth potential but has limited impact near term. We are excited about the core business strength but the uncertainty associated with the Fed business implementations keeps us nervous.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 13.1% and a 60.4% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.
Currently, the analyst consensus on Cerner Corp is a Moderate Buy with an average price target of $69, implying a 9.6% upside from current levels. In a report issued on July 25, Stifel Nicolaus also maintained a Hold rating on the stock with a $65 price target.
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