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UPDATE: Wedbush Upgrades Coventry Health Care to Neutral Post Aetna Bid

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Wedbush upgraded its rating on Coventry Health Care (NYSE: CVH) from Underperform to Neutral and raised its price target from $35 to $42.

Wedbush noted, "We are upgrading Coventry to NEUTRAL from UNDERPERFORM and increasing our price target to $42 as we now believe the stock will be rangebound near the $42.08 take-out price until the anticipated mid-2013 closing of the acquisition by Aetna. The $42.08 per share purchase price represents a 20% return over the 8/17 closing price. Shareholders will receive $27.30 in cash and 0.39 shares of AET for each CVH share."

Coventry Health Care closed at $42.04 on Monday.

Latest Ratings for CVH

Jun 2013JefferiesTerminatesHold
Apr 2013Deutsche BankMaintainsHold
Apr 2013Deutsche BankMaintainsBuy

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Posted-In: WedbushAnalyst Color News Upgrades M&A Intraday Update Analyst Ratings


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