UPDATE: J.P. Morgan Raises PT on Cerner to $76

J.P. Morgan is out with its report today on Cerner CERN, raising its PT from $60 to $76. In its report, J.P. Morgan writes, "Cerner reported another outstanding bookings quarter yesterday, with bookings up 39% y/y to $650M, $85M ahead of our estimate. EPS beat by $0.01 to come in at $0.44, and revenue of $524M was $9M ahead of our estimate. We are in the midst of the Stimulus and Cerner is clearly executing on the available opportunity. We reiterate our OW rating and are rolling out a December 2012 price target of $76." At the time of posting, shares of CERN were trading pre-market at $63.90, up 3.03% from Thursday's close.