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

June 15, 2012 1:05 PM EDT Send to a Friend
Get Alerts CNC Hot Sheet
Price: $78.83 --0%

Rating Summary:
    10 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade CNC Now!
Join SI Premium – FREE
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.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Barclays

Add Your Comment