Oppenheimer Maintains Outperform on Centene

Oppenheimer is out with its report today on Centene

, maintaining Outperform. In a note to clients, Oppenheimer writes, "CNC's business remains on track, as the RFP pipeline remains robust and utilization continues to trend modestly. Although rate increases are likely to remain low, the company should continue to identify additional cost saving opportunities to keep margins intact. As a result, we reiterate our Outperform rating." Oppenheimer maintains a $40 PT on CNC. Shares of CNC closed Tuesday at $33.95.