UPDATE: Bank of America Reiterates on WellPoint Following Company Investor Day

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In a report published Monday, Bank of America analyst Kevin Fischbeck reiterated a Neutral rating on WellPoint (NYSE: WLP), and raised the price target from $106.00 to $110.00.In the report, Bank of America noted, “On Friday, WLP held its Investor Day and increased adjusted EPS guidance to at least $8.20 from at least $8.00. The company spent much of the day highlighting its 2018 growth targets and the increased focus on strategy and execution as the new management team makes its mark on the company. Overall, WLP did a good job providing visibility into its growth story and as a result we are increasing our PO to $110. However, we maintain our Neutral rating as other diversified MCOs screen better on a risk-reward basis (Top pick: CI).”WellPoint closed on Friday at $99.77.

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