UPDATE: Bank Of America Reiterates On WellCare Health Plans On Disappointing Q2, Attractive Risk/Reward
In a report published Monday, Bank of America analyst Kevin Fischbeck reiterated a Buy rating on WellCare Health Plans (NYSE: WCG), but lowered the price target from $89.00 to $75.00.
In the report, Bank of America noted, “Our Buy rating reflects a view that the company is well positioned to take advantage of the near term Medicaid revenue opportunity (Medicaid expansion under Health Care Reform, new RFPs, duals) as well as the long-term Medicare Advantage opportunity.”
WellCare Health Plans closed on Friday at $61.61.
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