UPDATE: Auriga Downgrades Allscripts-Misys to Hold (MDRX)

Auriga is out with its report today on Allscripts-Misys MDRX, downgrading MDRX to Hold. In a note to clients, Auriga writes, "We are downgrading our rating on Allscripts to HOLD from BUY as limited upside to our downwardly revised $24 target no longer supports a Buy rating. Moreover, we have three broader concerns that move us to the sidelines at current valuation – 1) John Gomez' resignation, which gives us pause about MDRX' ability to pull off the Eclipsys “integration”, 2) the level of attrition of Eclipsys employees post merger, and 3) recent KLAS survey results revealing less than complementary rankings of Allscripts' Enterprise ambulatory product." Auriga lowers its PT on MDRX from $25 to $24. At the time of posting, shares of MDRX were trading pre-market at $21.10, down 6.18% from Wednesday's close.