Market Overview

UPDATE: Wedbush Upgrades Coventry Health Care to Neutral Post Aetna Bid

Related CVH
Summary of Jana Partners 13F: Aetna, Expedia and Kinder Morgan All Raised Among Others
Aetna and Other Stocks to Ride Out a Correction

Wedbush upgraded its rating on Coventry Health Care (NYSE: CVH) from Underperform to Neutral and raised its price target from $35 to $42.

Wedbush noted, "We are upgrading Coventry to NEUTRAL from UNDERPERFORM and increasing our price target to $42 as we now believe the stock will be rangebound near the $42.08 take-out price until the anticipated mid-2013 closing of the acquisition by Aetna. The $42.08 per share purchase price represents a 20% return over the 8/17 closing price. Shareholders will receive $27.30 in cash and 0.39 shares of AET for each CVH share."

Coventry Health Care closed at $42.04 on Monday.

Posted-In: WedbushAnalyst Color News Upgrades M&A Intraday Update Analyst Ratings

 

Most Popular

Related Articles (AET + CVH)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional