Auriga Says Continue To Hold Allscripts

Analyst Gene Mannheimer of Auriga USA maintains his "hold" rating on Allscripts-Misys (NASDAQ: MDRX), while raising his estimates for the company. The target price for MDRX is set to $17.

Allscripts-Misys has reported its Q4 EPS marginally ahead of and revenues in-line with the estimates. MDRX’s backlog orders were robust, with 5% sequential growth, indicating strong recurring revenues over the forthcoming three quarters, according to Auriga USA.

Allscripts-Misys is one of the best positioned electronic medical record providers due to the diversity of its product offerings that serve various practice segments, the analyst mentions. Auriga USA has raised its EPS estimates for FY10 and FY11 from $0.61 to $0.63 and from $0.72 to $0.73, respectively.