UPDATE: Hilliard Lyons Initiates Cerner with Long-Term Buy on Technological Competitive Advantage

In a report published Monday, Hilliard Lyons analyst Stephen Turner initiated coverage on Cerner Corporation (NASDAQ: CERN) with a Long-Term Buy rating and $58.00 price target.

In the report, Hilliard Lyons noted, “We believe Cerner has a technological competitive advantage due to the company's sole focus on health care information technology, and its product offering size and scale within the industry. Through this competitive advantage along with government mandates and positive industry trends Cerner has the potential to gain market share, in our opinion. New growth trends beyond Cerner's core Electronic Health Record (EHR) system, Millennium, include physician practice management solutions, population health management and revenue cycle management software & services.”

Cerner Corporation closed on Friday at $47.37.