UPDATE: JP Morgan Raises PT on Molina Healthcare to $32
JP Morgan has published a research report on Molina Healthcare (NYSE: MOH) and has raised the price target on Molina Healthcare from $29 to $32 after the company hosted an investor day yesterday.
In the report, JP Morgan writes, "The key themes revolving around the very strong growth opportunities in government-program businesses, scaling up to handle these, and updates on current markets. With the MOH guide, now each of the state-program pure plays expecting top line growth of (at least) 30%+ in '12, and given the acceleration of governments looking to managed care as a solution, we believe a pacing that could persist for the next several years. Within this, duals and MOH's positioning in states likely to be first movers, being a significant part of the discussion. We're raising our '12/'13 EPS by $0.10 each to $1.85 and $2.00, respectively."
JP Morgan maintains its Neutral rating on Molina Healthcare, which is currently trading flat at yesterday's $29.60 closing price.
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