Fly News Breaks for October 25, 2019
Oct 25, 2019 | 05:18 EDT
Piper Jaffray analyst Sean Wieland is encouraged by the continued progress of Cerner towards driving a higher level of profitability in the business. The biggest moving piece to the quarter was the decision to exit the Revworks services business with Adventist, which pressures revenue growth but boosts margin expansion, Wieland tells investors in a research note. Further, he believes continued execution on government business is "good news." The analyst lowered his price target for Cerner to $78 from $80 and keeps an Overweight rating on the shares.
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