UPDATE: Deutsche Bank Cuts PT to $68 on Humana on Senior Management Turnover
Deutsche Bank maintained Humana (NYSE: HUM) with a Hold and lowers the price target from $80.00 to $68.00.
Deutsche Bank noted, "The turnover of Humana's senior management team continues to play out as CFO Jim Bloem announced that he will retire at the end of the 2013. This follows the retirement of former CEO Mike McCallister at the end of 2012. Mr. Bloem captured the entire upcycle in MA during his tenure as CFO and now could be exiting right in front of a potential MA downturn that could begin in 2014 based on the highly challenging prelim 2014 MA rate proposal. We continue to see elevated EPS headwinds for the MCO industry in 2014 and reduce our PT for HUM to $68 from $80."
Humana closed at $69.66 on Monday.
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