Jefferies raised its price target on Buy-rated Cerner (NASDAQ: CERN) from $82 to $97 following Q4 results with bookings over $1 billion above expectation.
The firm comments, "Bookings were the highlight of 4Q at $1B and above expectations. 1Q13 guidance sets the stage for robust growth this year. 4Q12 earnings were solidly in line, after adjusting for two below-the-line items. Margin improvement should accelerate in 2013 as the impact of device re-sales moderates. Cerner's industry-leading commitment to R&D positions it well to continue winning market share from its competitors."