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Fly News Breaks for July 8, 2019
CERN
Jul 8, 2019 | 06:59 EDT
Cantor Fitzgerald analyst Steven Halper raised his price target for Cerner to $85 from $75 to reflect higher operating margin assumptions for 2020. As part of its agreement with Starboard earlier this year, Cerner committed to non-GAAP operating margin targets of 20% and 22.5% in Q4 of 2019 and of 2020, respectively, Halper tells investors in a research note. After a recent discussion with management, the analyst believes Cerner's efforts to improve operating margins are "progressing along nicely." He reiterates an Overweight rating on the shares.
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