Market Overview

UPDATE: Bank of America Upgrades Centene to Buy on Health Care Reform Tailwinds

Share:
Related CNC
The Top 20 Wall Street Analysts Of 2015
Credit Suisse On Managed Care: Starts Centene, UnitedHealth And Others At Outperform, WellCare At Underperform

Bank of America raised its rating on Centene (NYSE: CNC) from Underperform to Buy and raised its price objective from $39 to $46.

Bank of America commented, "We are upgrading CNC shares to Buy (from Underperform) with a view that companies with Medicaid exposure should benefit from coverage expansions outlined in health care reform legislation. Specifically, the market is likely to refocus on revenue growth driven by states transitioning existing beneficiaries to HMOs (from unmanaged fee for service), dual eligible demonstrations and program enrollment that could increase 20% starting in 2014 as projected by the CBO. We are raising our P.O. to $46 (from $39) on P/E multiple expansion."

Centene Corporation closed at $39.87 on Tuesday.

Latest Ratings for CNC

DateFirmActionFromTo
Jan 2016JefferiesMaintainsBuy
Jan 2016BarclaysMaintainsEqual-weight
Dec 2015Leerink SwannMaintainsOutperform

View More Analyst Ratings for CNC
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (CNC)

View Comments and Join the Discussion!

Get Benzinga's Newsletters