The Hot Stock: Cerner Jumps 7.8%. Wait? What is Cerner?!?!
Cerner (CERN) soared to the top of the S&P 500 today after the health care information technology company reported better-than-expected earnings and revenue. Cerner gained 7.8% to $64.75 at 5:03 p.m. today…
From the American News Group archive. This article dates from May 22, 2017 and is preserved as first published.
Cerner (CERN) soared to the top of the S&P 500 today after the health care information technology company reported better-than-expected earnings and revenue.
Cerner gained 7.8% to $64.75 at 5:03 p.m. today, while the S&P 500 declined 0.2% to 2,384.20.
Canaccord Genuity’s Richard Close and Brian Hoffman contend Cerner may be “rediscovered its mojo.” They explain:
We reiterate our BUY rating and raise our PT to $66 (was $59) as the company finally
appears to have provided quarterly and annual targets that it can meet. Possibly more important, analyst expectations sit near the mid-point of guidance, portending upside potential. The outlook appears solid as the company (1) rebuilds a track record of delivering on expectations, (2) reaffirmed confidence in 2017 bookings growth, and (3) has a strengthened pipeline for ITWorks and revenue cycle. CERN may have rediscovered its mojo.
Canaccord Genuity’s Richard Close and Brian Hoffman contend Cerner may be “rediscovered its mojo.
Cerner’s market capitalization rose to $21.4 billion today from $19.8 billion yesterday.
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