J.P. Morgan Maintains Neutral Rating on Centene

According to J.P. Morgan, Centene (NYSE: CNC) Neutral rating is maintained.

J.P. Morgan said that CNC issued its 2012 outlook, with EPS in a range of $2.60 to $2.80, the midpoint $2.70 comparing with the $2.50 and consensus of $2.61. “MCR is expected to increase 200bps to 84.9%-85.9% (about in line), while G&A is expected to be down/improve 140bps in '12. No update given on rate outlook, while we expect discussion around this at the company's investor meeting this morning.”

Centene closed yesterday at $35.63.