Veradigm price target lowered to $7 from $13 at Stephens

Stephens lowered the firm’s price target on Veradigm (MDRX) to $7 from $13 and keeps an Equal Weight rating on the shares. The firm believes Veradigm was “biased toward pursuing a sale” as the outcome of the strategic review, but after entering into confidentiality agreements with 30 parties and receiving five preliminary, non-binding indications of interest, Veradigm did not receive any final proposals and announced it will move forward with a standalone strategy. Investors will have to wait until mid-March for a financial update including an audit update, so investors are “left to guess for 1.5 months, but have to lean toward an assumption of pressures on growth and profitability,” the analyst says.