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Fly News Breaks for April 26, 2018
CERN
Apr 26, 2018 | 06:09 EDT
Piper Jaffray analyst Sean Wieland believes it remains highly likely Cerner signs the Veterans Affairs contract, especially given the news the VA has budgeted $1.2B in fiscal 2019 for the project. However, the process to get the deal signed has "gotten murkier" in light of the postponement of Ronny Jackson's confirmation hearing, Wieland tells investors in a research note. As such, the analyst views the stock's risk/reward into Q1 earnings as "less than favorable," and recommends "treading lightly" into the quarter given the risk posed by the delayed signing. Wieland keeps an Overweight rating on Cerner with a $70 price target.
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