Jefferies Reiterates Buy Rating, $103 PT for Humana

In a company update issued earlier today, Jefferies & Company, Inc. reiterated its Buy rating and $103.00 price target for Humana Inc. HUM. Jefferies went on to say “1Q12 EPS of $1.49 was above guidance, but fell short of consensus by 2.5%. A higher MLR accounted for the shortfall, and favorable PPD added just 3 cents to earnings (vs.$0.31 in 1Q11). Results were mixed by segment. HUM modestly increased its 2012 EPS outlook, but not as much as we had expected. We expect shares to underperform today even with the flat YTD performance.” Humana Inc. closed on Friday at $87.82.