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Barclays Maintains an 'Overweight' on Centene (CNC); Current Valuation Simply Looks Attractive

June 15, 2012 1:05 PM EDT Send to a Friend
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Price: $82.71 -1.21%

Rating Summary:
    10 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 10
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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.




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