Market Overview

UPDATE: Wedbush Reduces PT to $56 on Centene on Industry-Wide Earnings, Growth Volatility

Related CNC
UPDATE: Bank Of America Reiterates On Centene On Raised Estimates
Earnings Season Boosts Confidence; S&P Trades At Record Highs

Wedbush reiterates its Outperform rating on Centene (NYSE: CNC) and reduces its price target from $52 to $36.

Wedbush comments, "We believe dual, ABD, and LTC contracts will be profitable in Y2 and beyond; reiterate OUTPERFORM, but now see higher risk for margin volatility in Y1 - as such, we are lowering our Medicaid multiple to 11.7x from 17.2x and our price target to $36. We still see significant top-line growth potential over the next few years as over $300B in contracts are awarded."

CNC closed at $26.84 on Thursday.

Posted-In: WedbushAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CNC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters