In a report published Wednesday, Sterne Agee analyst Greg T. Bolan resumed coverage on athenahealth ATHN with a Neutral rating and $84.00 price target.
In the report, Sterne Agee noted, “We think the keys to athenahealth's ability to maintain 30% core revenue growth will be: 1) mind share gain among physicians and 2) continued success with penetrating large physician practices, typically owned by or affiliated with for-profit health systems. Based on valuation and our belief that consensus CY13 sales growth estimates are too high, we re-initiate coverage with a Neutral rating and $84 price target.”
athenahealth closed on Tuesday at $87.92.
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