Piper Sandler analyst Jessica Tassan downgraded Veradigm (MDRX) to Neutral from Overweight with a price target of $18.50, up from $17. The valuation disconnect between Veradigm and electronic health record peers has narrowed, with Veradigm now trading within 6% of the 10-times multiple, which constitutes fair value, the analyst tells investors in a research note. Piper believes the company’s fundamentals do not support further multiple expansion.
Published first on TheFly
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