Goldman Sachs Reiterates Neutral Rating, $29 PT for Centene
In a company update published earlier today, the Goldman Sachs Group, Inc. reiterated its Neutral rating and $29.00 price target for Centene Corp. (NYSE: CNC).
Goldman Sachs went on to say “While the near-term downside risk looks higher, we believe margin pressure is likely to be episodic and that the long-term growth outlook remains robust as more states move their Medicaid spending into managed care (while health reform expands Medicaid coverage, starting in 2014, assuming the law stands). In addition, the conversion of Medicare-Medicaid dual eligibles could add $300 bn to the managed care industry top-line (we have identified $85 bn in annualized revenue from proposed dual eligible demonstrations so far).”
Centene Corp. closed yesterday at $28.20.
Latest Ratings for CNC
|Jan 2017||PiperJaffray||Initiates Coverage On||Overweight|
|Dec 2016||JP Morgan||Initiates Coverage On||Overweight|
|Dec 2016||Goldman Sachs||Upgrades||Sell||Neutral|
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