UPDATE: JP Morgan Initiates Amerigroup with Overweight, $70 PT on Execution
JP Morgan initiates its coverage on Amerigroup (NYSE: AGP) with an Overweight rating and a price target of $70.
JP Morgan notes, "While recent news-flow from MOH/CNC has been unsettling, we see Amerigroup as the most compelling way for investors to participate in the transformative growth opportunities within the Medicaid Managed Care space over the next 3-5 years given the company's solid history of execution coupled with one of the strongest top-line growth trajectories in all of healthcare services."
AGP closed at $58.68 on Tuesday.
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