Stock Pick Update: Cerner Beats & Raises

My short squeeze pick Cerner (CERN) again beat estimates. Cerner's Q2 profit was up 39% YOY. Cerner earned $0.51 vs. the $0.49 mean estimate. Guidance for Q3 is $0.54-$0.55, which is in-line with expectations. Revenue was up 22% at $277.8 million beating estimates of $268.4 million. They also increased new business booking by 18% year over year. Cerner raised FY guidance to $2.13-$2.16 from $2.10-$2.14.
Target Price: 40 X $2.16 = $86.40

I am long Cerner.