UPDATE: Goldman Sachs Reiterates Sell Rating, $62 PT on Humana
In a report published Wednesday, Goldman Sachs Group reiterated its Sell rating and $62.00 price target on Humana (NYSE: HUM).
Goldman Sachs noted, “The focus of the investor day was the transition to provider-integrated care (owned and risk-contracted) that offers lower cost / higher quality outcomes versus traditional fee-for-service. With Medicare Advantage (MA) driving the majority of revenue and earnings, we think integrated care is the right model to better position Humana for tighter MA reimbursement as health reform rolls through and also the right model to strengthen Humana's role in easing the national Medicare cost crisis in the years ahead.”
Humana closed on Tuesday at $68.29.
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Tags: Goldman Sachs Group