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UPDATE: Bank Of America Reiterates On WellPoint Following Q2 EPS Report


In a report published Thursday, Bank of America analyst Kevin Fischbeck reiterated a Neutral rating on WellPoint (NYSE: WLP), and raised the price target from $120.00 to $125.00.

In the report, Bank of America noted, “WLP reported adj. Q2 EPS of $2.44, $0.13 above our est and $0.18 above consensus, with the upside vs. our model driven by lower MLR somewhat offset by higher operating expense. WLP increased its 2014 adjusted EPS guidance to ‘at least $8.60' from “at least $8.40” due to slightly better revenue and a lower MLR assumption. The guidance raise looks to be in line with the beat this quarter, implying some conservatism in the outlook.With the quarter, we are increasing our 2014/2015/2016 EPS estimates to $8.75/$9.35/$10.34 from $8.65/$9.25/$10.24and raising our PO to $125. We are maintaining our Neutral rating as we believe WLP will do well this year, but we see similar/higher upside at other names with less risk (top pick CI).”

WellPoint closed on Wednesday at $112.47.

Latest Ratings for WLP

Nov 2014Bank of AmericaMaintainsBuy
Nov 2014UBSMaintainsBuy
Oct 2014BarclaysMaintainsEqual-Weight

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