UPDATE: Bank Of America Upgrades WellPoint Inc
In a note released Monday morning, Bank of America analyst Kevin Fischbeck upgraded shares of WellPoint Inc (NYSE: WLP) from Neutral to Buy and raised the price objective from $125 to $140.
Fischbeck wrote, "The current valuation overly discounts HC Reform risks and undervalues the company's growth profile and competitive scale advantage."
As support for his optimistic view, Fischbeck pointed to the company's expectations for increased EPS despite significant headwinds for its small group EBIT, as well as "best in class" unit costs and SG&A.
Looking ahead, Fischbeck is predicting an ESP of $8.80, $9.45,and $10.49, respectively, from 2014-2016.
Latest Ratings for WLP
Date | Firm | Action | From | To |
---|---|---|---|---|
Nov 2014 | Bank of America | Maintains | Buy | |
Nov 2014 | UBS | Maintains | Buy | |
Oct 2014 | Barclays | Maintains | Equal-Weight |
View More Analyst Ratings for WLP
View the Latest Analyst Ratings
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Bank of America Kevin FischbeckAnalyst Color News Upgrades Price Target Analyst Ratings