Barclays Maintains an 'Overweight' on Centene (CNC); Current Valuation Simply Looks Attractive
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Price: $49.91 -2.79%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
Trade CNC Now!
Barclays maintains an 'Overweight' on Centene (NYSE: CNC) price target of $35.00 (from $30.00).
Analyst, Joshua R. Raskin, attended Centene's semi-annual investor day and was hoping to get more on the long-term outlook, along with any initiatives. However, it seems the main focus was on the company's guidance, which was drastically cut on Monday (from a range of $2.64-2.68 to $1.45-1.65).
All in, Raskin learned that the company's lowered guidance was slightly more favorable the first feared. For the long run, Raskin said his positive position (and thesis) on the stock/company remains intact.
Barclays maintains FY12 EPS estimate at $1.60, but raies FY13 from $2.00 to $2.30.
For an analyst ratings summary and ratings history on Centene click here. For more ratings news on Centene click here.
Shares of Centene closed at $28.20 yesterday, with a 52 week range of $24.26-$50.98.
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Analyst, Joshua R. Raskin, attended Centene's semi-annual investor day and was hoping to get more on the long-term outlook, along with any initiatives. However, it seems the main focus was on the company's guidance, which was drastically cut on Monday (from a range of $2.64-2.68 to $1.45-1.65).
All in, Raskin learned that the company's lowered guidance was slightly more favorable the first feared. For the long run, Raskin said his positive position (and thesis) on the stock/company remains intact.
Barclays maintains FY12 EPS estimate at $1.60, but raies FY13 from $2.00 to $2.30.
For an analyst ratings summary and ratings history on Centene click here. For more ratings news on Centene click here.
Shares of Centene closed at $28.20 yesterday, with a 52 week range of $24.26-$50.98.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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