Shares of Allscripts (MDRX) , a provider of practice management and electronic health record technology to various healthcare professions, were climbing over 2% during early Tuesday morning trading following an upgrade of the stock at Cantor Fitzgerald.
The firm raised its rating on the stock to "Overweight" from "Neutral" and hiked its price target to $17 from $15.
Allscripts's acquisition of McKesson's (MCK) Enterprise Information Solutions health IT business for $185 million in cash earlier this month will fill some product gaps and generate material cost saving opportunities for the firm, Cantor analyst Steven Halper. He also sees an improved risk/reward offering.
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