Barclays Maintains an 'Equalweight' on WellCare Health Plans (WCG); Magnitude of Beat & Raise Should Propel Shares

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Barclays maintains an 'Equalweight' on WellCare Health Plans (NYSE: WCG) price target bumped from $61 to $79.

Analyst, Joshua R. Raskin, said, "WellCare reported fourth-quarter 2011 results this morning that were well above estimates and met with guidance for 2012 that could be seen as significantly better than expected."

Raskin also thinks that the magnitude of the beat and raise should provide continued lift to the shares...at least short-term.

Barclays also raises FY12 EPS from $3.90 to $4.50 and FY13 from $4.35 to $4.95

For an analyst ratings summary and ratings history on WellCare Health Plans click here. For more ratings news on WellCare Health Plans click here.

Shares of WellCare Health Plans closed at $68.74 yesterday, with a 52 week range of $33.29-$71.54.

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