Market Overview

UPDATE: Citigroup Downgrades Centene to Neutral on Limited Upside Potential

Share:
Related CNC
A Pair Trade In U.S. Healthcare: Bullish on Centene, Neutral On Aetna
Benzinga's Top Upgrades
Large-cap stocks with the most upside next year, according to sell-side (Seeking Alpha)

Citigroup downgraded Centene (NYSE: CNC) from Buy to Neutral and maintained its $45 price target.

Citigroup noted, "After a 6% move on Tuesday, and with the stock up 75% from its June low, we're taking a step back on Centene. Even with $15 billion in revenue (that's a 50% increase relative to projected 2013 revenue of $10 billion), and a 1.5% net margin, Centene would earn around $4/share, which at a 12x multiple would value the company at $48, only modestly higher than the current price."

Centene closed at $44.99 on Tuesday.

Latest Ratings for CNC

DateFirmActionFromTo
Nov 2016BernsteinUpgradesMarket PerformOutperform
Nov 2016Credit SuisseDowngradesOutperformNeutral
Oct 2016Credit SuisseMaintainsOutperform

View More Analyst Ratings for CNC
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Analyst Ratings

 

Related Articles (CNC)

View Comments and Join the Discussion!