UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on WellPoint Following Company Investor Day

In a report published Monday, Credit Suisse analyst Ralph Giacobbe reiterated a Neutral rating on

, and raised the price target from $92.00 to $107.00. In the report, Credit Suisse noted, “WLP hosted an Investor Day Friday and increased 2014 guidance to greater than $8.20 (vs. previous $8.00+). Mgmt also reaffirmed the company's 5-year expected EPS CAGR of 10-14% and additionally pointed to 2018 potential for EPS of $14+ on operating revenues of $100B+. The discussion was bullish and covered a variety of topics including an overview of the Commercial and Gov't businesses, the l-t growth potential, and strong capital position/flexibility. We maintain our Neutral rating given the recent move in the stock and as we look to get greater visibility/comfort on exchange margins, but came away from the meeting generally more positive on the stock and increase our TP to $107 (from $92), which assumes shares can trade at 12x our ‘15E EPS.” WellPoint closed on Friday at $99.77.