Goldman Sachs Places Centene EPS and PT Under Review
Goldman Sachs has published a research report on Centene (NYSE: CNC) commenting on lowered guidance from new market utilization pressures.
In the report, Goldman Sachs writes, "CNC revised its 2012 EPS guidance downwards, reflecting higher than anticipated medical costs in its new Texas and Kentucky markets, as well as for its individual commercial business (Celtic). CNC now sees 2012 EPS of $1.45-$1.65 vs. prior $2.64-$2.84 and anticipates a loss for 2Q2012. We expect CNC will provide further detail at its investor day this Thursday."
Goldman Sachs has EPS and price target for Centene under review, while the stock is trading down $9.27 from Friday's $35.47 closing price.
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