With shares trading up 27% from a March low, SunTrust Robinson Humphrey cuts Cerner (NASDAQ:CERN) from Buy to Hold.
Analyst Sandy Draper thinks the current valuation
“fairly reflects the company’s growth” with near-term demand “paused” by
the pandemic.
The timing of the rebound isn’t certain, but Draper doesn’t expect a V-shaped recovery.
SunTrust raises its Cerner target from $66 to $72, a 4% upside.
Related: Earlier this week, CERN reported a mixed Q1 with a revenue miss and said it expects to feel the largest coronavirus impact in Q2.
https://seekingalpha.com/news/3567599-cerner-sidelined-on-valuation-after-rally
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