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Goldman Sachs Reiterates Neutral Rating, $29 PT for Centene

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Morgan Stanley Sees Centene as Aiming for Execution in 2014

In a company update published earlier today, the Goldman Sachs Group, Inc. reiterated its Neutral rating and $29.00 price target for Centene Corp. (NYSE: CNC).

Goldman Sachs went on to say “While the near-term downside risk looks higher, we believe margin pressure is likely to be episodic and that the long-term growth outlook remains robust as more states move their Medicaid spending into managed care (while health reform expands Medicaid coverage, starting in 2014, assuming the law stands). In addition, the conversion of Medicare-Medicaid dual eligibles could add $300 bn to the managed care industry top-line (we have identified $85 bn in annualized revenue from proposed dual eligible demonstrations so far).”

Centene Corp. closed yesterday at $28.20.

Posted-In: Goldman Sachs Group Inc.Analyst Color Reiteration Analyst Ratings

 

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