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Goldman Sachs Reiterates Neutral Rating, $29 PT for Centene

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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.

Latest Ratings for CNC

DateFirmActionFromTo
Jul 2016JefferiesMaintainsBuy
Jun 2016Morgan StanleyUpgradesEqual-weightOverweight
Jun 2016BarclaysUpgradesEqual-weightOverweight

View More Analyst Ratings for CNC
View the Latest Analyst Ratings

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

 

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