Market Overview

UPDATE: Bank of America Upgrades Molina Healthcare to Neutral on Stronger Revenue Trajectory

Share:
Related MOH
15 Biggest Mid-Day Gainers For Thursday
Mid-Morning Market Update: Markets Open Lower; Wal-Mart Beats Q2 Views

Bank of America raised its rating on Molina Healthcare (NYSE: MOH) from Underperform to Neutral and raised its price objective from $23 to $29.

Bank of America commented, "We are upgrading MOH shares to Neutral (from Underperform) with a view that companies with Medicaid exposure should benefit from coverage expansions outlined in health care reform legislation. Specifically, the market is likely to refocus on revenue growth driven by states transitioning existing beneficiaries to HMOs (from unmanaged fee for service), dual eligible demonstrations and program enrollment that could increase 20% starting in 2014 as projected by the CBO. We are raising our P.O. to $29 (from $23) on P/E multiple expansion."

Molina Healthcare closed at $26.62 on Tuesday.

Latest Ratings for MOH

DateFirmActionFromTo
Aug 2017Morgan StanleyUpgradesUnderweightOverweight
Jul 2017Bank of AmericaMaintainsUnderperform
Jun 2017Morgan StanleyInitiates Coverage OnUnderweight

View More Analyst Ratings for MOH
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (MOH)

View Comments and Join the Discussion!