Anthem (ANTM) PT Trimmed to $160 at UBS
- Wall St. stock futures fall after Italy referendum
- Oil tops $55 for first time in 16 months as OPEC deal fuels buying
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
- Burberry rejects multiple takeover offers from Coach: Financial Times
- Trump picks ex-rival Carson to head housing department
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
UBS analyst A.J. Rice reiterated a Buy rating and lowered his price target on Anthem (NYSE: ANTM) to $160.00 (from $162.00).
Rice commented, "Anthem expects its 2017 earnings to grow modestly versus its 2016 EPS outlook of "approximately" $10.80. In 2017, the company sees tailwinds to its earnings coming from a) Enrollment gains across Medicaid, Medicare (with Y/Y stable margins), selffunded businesses etc; b) Margin improvement in the individual ACA compliant and the Iowa Medicaid business; c) The impact of the one year HIF moratorium on the commercial biz; and d) potential capital deployment. 2017 headwinds include a) onetime SG&A cuts which benefited 2016 come back in 2017; b) enrollment and margin pressure due to a shift to ACA compliant offerings in the local group biz; and c) rate pressure in the Medicaid expansion business. Finally, Anthem is in the process of updating its LT growth plan and may revisit its 2018 EPS target of $14/share."
Shares of Anthem closed at $122.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Credit Suisse Upgrades National Beverage (FIZZ) to Outperform
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- FBR Capital Cuts Price Target on Express (EXPR) Following 3Q EPS Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesUBS, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!