Market Overview

Cantor Fitzgerald Reiterates Hold, $29 PT on Centene Amid Challenges

Share:
Related CNC
Benzinga's Top Upgrades, Downgrades For May 22, 2017
The Market In 5 Minutes

Cantor Fitzgerald reiterates its Hold rating and $29 price target on Centene (NYSE: CNC) on lack of visibility amid challenges emanating from the company's recent earnings shortfall.

Cantor Fitzgerald comments, "Centene used today's Investor Day to add detail regarding Monday's announcement of a big earnings shortfall and to lay out its action plan. Significant steps are being taking at each of the company's affected businesses, and it is reviewing Celtic, but while it appears confident that these problems will be resolved, the path is neither simple nor obviously developed according to a specific timeline. We like the detailed analysis of the problem and the plan, but prefer to at least wait for the 2Q:12 earnings call (and an update) before stepping up to the stock."

CNC closed at $28.20 on Thursday.

Latest Ratings for CNC

DateFirmActionFromTo
May 2017JP MorganDowngradesOverweightNeutral
Apr 2017Deutsche BankInitiates Coverage OnBuy
Jan 2017PiperJaffrayInitiates Coverage OnOverweight

View More Analyst Ratings for CNC
View the Latest Analyst Ratings

Posted-In: Cantor FitzgeraldAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (CNC)

View Comments and Join the Discussion!