UPDATE: JP Morgan Raises PT on Molina Healthcare to $32

JP Morgan has published a research report on Molina Healthcare MOH and has raised the price target on Molina Healthcare from $29 to $32 after the company hosted an investor day yesterday. In the report, JP Morgan writes, "The key themes revolving around the very strong growth opportunities in government-program businesses, scaling up to handle these, and updates on current markets. With the MOH guide, now each of the state-program pure plays expecting top line growth of (at least) 30%+ in '12, and given the acceleration of governments looking to managed care as a solution, we believe a pacing that could persist for the next several years. Within this, duals and MOH's positioning in states likely to be first movers, being a significant part of the discussion. We're raising our '12/'13 EPS by $0.10 each to $1.85 and $2.00, respectively." JP Morgan maintains its Neutral rating on Molina Healthcare, which is currently trading flat at yesterday's $29.60 closing price.