UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Centene Corp. Following Exit Delay Announcement

In a report published Tuesday, Jefferies analyst David Windley reiterated a Hold rating on

, and raised the price target from $47.00 to $50.00. In the report, Jefferies noted, “With the future of KY top of mind, management said it still expects to exit the state, likely by the end of 3Q13. The financial impact update of the delayed exit will have to wait until the 2Q earnings call in late July, and guidance updates may have to wait longer. CNC also provided initial color on 2014 top-line growth and Exchange plans.” Centene Corp. closed on Monday at $50.81.