Deutsche Bank Reiterates Buy on Allscripts (MDRX)

Deutsche Bank is out with its "Health IT Update" today, and it reiterates Buy on Allscripts (NASDAQ: MDRX).

In a note to clients, Deutsche Bank writes, "Given the pending start of the attestation period for meaningful use certification, we have analyzed the implied EPS growth for the EHR vendors and identify which company's EPS growth is underappreciated. Based on a target LT P/E multiple and implied 3-year EPS CAGR (vs. the Street consensus 3-year EPS growth estimates), it appears that investors are not giving MDRX enough credit for its expected EPS growth. Given its broad product portfolio (addressing all ends of the market) and synergy-driven upside, we reiterate our Buy rating on MDRX."

Shares of MDRX closed Wednesday at $20.95, down 0.05% from Tuesday's close.