Cantor starts NextGen Healthcare with Overweight, $21 price target

Cantor Fitzgerald analyst Sarah James initiated coverage of NextGen Healthcare with an Overweight rating and $21 price target. NextGen provides one of the largest interoperability health data platforms, MirthConnect, used in one third of all U.S. health information exchanges and 39 countries, the analyst tells investors in a research note. The firm sees the company’s suite of offerings as well positioned for the shift of U.S. healthcare into value-based care and shared savings. The network effect of NextGen’s “broad” installed base for MirthConnect is a driver for the company to outpace market growth in value-based care technology support tools, Cantor contends.