Market Overview

UPDATE: BMO Capital Markets Upgrades Health Net to Market Perform with $23 PT

Share:
Related HNT
UBS Has Had Enough: Centene Upgraded To Buy On 'Underappreciated Opportunities'
UnitedHealth Posts Q2 Beat, Raises Outlook; What Other Managed Care Names Will Be Reporting Soon?
Trade of the Day Long HNT - 73015 (Marketfy Insights)

BMO Capital Markets upgraded Health Net Inc. (NYSE: HNT) from Underperform to Market Perform and raised the price target from $17 to $23.

BMO Capital Markets noted, "we are upgrading the shares of Health Net based on the improved visibility around Medi-Cal contracting. While developing a risk corridor for the state-sponsored business will not shield the company from catastrophic loss, the mechanism should smooth results, providing better quarterly visibility to earnings. We have held an UNDERPERFORM rating based on lack of visibility into Medi-Cal and commercial earnings. Third-quarter commercial results were free from the drag of adverse development, a positive for the operations. The risk sharing arrangement created in California limits the near-term downside to earnings for Health Net. All of this leads us to upgrade the shares to MARKET PERFORM."

Health Net closed at $25.84 on Wednesday.

Latest Ratings for HNT

DateFirmActionFromTo
Jul 2015Goldman SachsDowngradesBuyNeutral
Jul 2015JefferiesDowngradesBuyHold
Jul 2015SusquehannaMaintainsNeutral

View More Analyst Ratings for HNT
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (HNT)

Get Benzinga's Newsletters