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Friday, February 22, 2019

Allscripts downgraded to Neutral from Buy at Citi

Citi analyst Stephanie Demko downgraded Allscripts to Neutral and lowered her price target for the shares to $12 from $14. The “implied steepness” in the ramp to long-term guidance “may prove out of reach,” while near-term challenges in investor sentiment could keep shares range bound, Demko tells investors in a post-earnings research note. She points out the stock traded down 11% as a miss on headline numbers and fiscal 2019 guidance “likely struck a raw nerve with investors” following management’s bullish tone in January.

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