UPDATE: Credit Suisse Reiterates On Humana On Model Update Post 3Q14

In a report published Monday, Credit Suisse analyst Ralph Giacobbe reiterated a Neutral rating on

, and raised the price target from $123.00 to $140.00. In the report, Credit Suisse noted, “We have revisited our HUM model following 3Q14 results. We have lowered our 2014E EPS to $7.54 (from $7.72), but maintain our 2015E-2016E EPS of $8.75 and $9.80, respectively. Our revisions factor in updated 2014 guidance revisions and first time 2015 guidance, among other tweaks. We are raising our TP to $140 (from $123), which assumes HUM can trade at 16x our ‘15E EPS.” Humana closed on Friday at $130.58.