UPDATE: Goldman Sachs Lowers Target to $76 on WellPoint

Goldman Sachs maintains its Neutral rating on WellPoint

and lowers its price target to $76 from $81 as it lowers estimates on EPS following fourth quarter results. Goldman Sachs says, "Following 4Q, we lower 2012 EPS by $0.20 to $7.80 (+11% yoy vs. prior 14%) and 2013 EPS by $0.10 to $8.85 (+13% yoy vs. prior 12%), primarily reflecting a heavier load of infrastructure investment ahead of targeted 2014 health reform implementation. ...While 4Q was weaker than we modeled, the breakdown provided on the call showed the weakness driven mostly by pressure from the WLP-specific Medicare product problem that appears to be resolved for 2012 and therefore becomes a yoy tailwind." WLP closed at $66.10 a share on Wednesday.