Credit Suisse upgraded shares of Allscripts Healthcare Solutions (NASDAQ: MDRX) from a neutral rating to an outperform rating in a research note released on Wednesday morning. They currently have $15.00 price target on the stock, up from their previous price target of $13.00.
“We are upgrading shares to Outperform (from Neutral), as we are growing more comfortable that new management can stabilize customer churn and successfully demonstrate the functionality of recent software upgrades. It is our sense that the issues that have plagued MDRX since the acquisition of ECLP have led customers to under-purchase, and as new management & a more stable product offering gain acceptance in the sizable customer footprint, bookings & earnings could recover. Additionally, we don’t discount the potential for a rationalized cost structure to offer further support to earnings growth, although the near-term path to growth is likely to be volatile.,” the firm’s analyst wrote.
Shares of Allscripts Healthcare Solutions traded up 0.08% during mid-day trading on Wednesday, hitting $12.72. Allscripts Healthcare Solutions has a one year low of $8.84 and a one year high of $19.57. The stock’s 50-day moving average is currently $11.07. The company’s market cap is $2.180 billion.
MDRX has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a neutral rating on shares of Allscripts Healthcare Solutions in a research note to investors on Thursday, February 21st. They now have a $13.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Allscripts Healthcare Solutions from $10.00 to $11.50 in a research note to investors on Wednesday, February 20th. Finally, analysts at ISI Group reiterated a buy rating on shares of Allscripts Healthcare Solutions in a research note to investors on Wednesday, February 20th. They now have a $14.00 price target on the stock, up previously from $10.50.
Six research analysts have rated the stock with a buy rating, two have given an overweight rating, eleven have given a hold rating, and one has issued a sell rating to the company. The stock has an average rating of overweight and an average target price of $12.82.
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