Deutsche Bank Reiterates Hold, $47 PT on Centene
Deutsche Bank remains Hold-rated with a $47 target price on Centene (NYSE: CNC) as the company delivers an in-line quarter and reaffirms guidance.
Deutsche Bank says, "CNC reported 4Q11 EPS of $0.57, 4% above the Street and DB's $0.55. While revenues beat our forecast by 4%, operating earnings were essentially in line with our model. Below the line items including higher net interest income and a lower tax rate drove the two pennies of upside relative to our model. CNC maintained its EPS guidance at $2.60-2.80 and revenue guidance at $7.2-7.6b. MLR and G&A expense ratio guidance were also reaffirmed."
CNC closed at $46.28 on Monday.
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