UPDATE: Piper Jaffray Raises PT on athenahealth to $49 (ATHN)

Piper Jaffray is out with its report today on athenahealth ATHN, raising its price target from $46 to $49. In a note to clients, Piper Jaffray writes, "We are connecting the dots on two independent datapoints to add context to ATHN's growth in the Enterprise pipeline. Our last note highlighted significant growth in the Enterprise Pipeline. Recent checks point to churn within the legacy IDX Flowcast customer base of GE. We believe the two datapoints are related, which adds to our conviction of accelerating enterprise deal flow for ATHN. As such, we are raising our estimates and our PT moves to $49." Piper Jaffray maintains Overweight on ATHN. Shares of ATHN closed Monday at $47.44, up 0.43% from Friday's close.