Credit Suisse Downgrades Centene (CNC) to Neutral on Trump Win
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Credit Suisse downgraded Centene (NYSE: CNC) from Outperform to Neutral with a price target of $60.00 (from $82.00).
Analyst Scott Fidel commented, "The election of Donald Trump as the next President and the Republican sweep of Congress could have an impact on equity values that may likely go well beyond the initial stock price moves since the elections. In our election playbook preview, we highlighted that a Trump win represents a clear positive for Diversified MCO stocks and a clear negative for the stocks of Hospitals and Medicaid MCOs. In this report, we refresh our ratings and price targets across our coverage universe to align exactly with this thesis. The bottom line is that we are now more positive on the outlook for the Diversified MCO stocks; we see particularly bright prospects ahead for Medicare Advantage (MA) under a Trump administration. Conversely, we see new clouds of uncertainty swirling around the stocks of companies that are highly leveraged to the Affordable Care Act (ACA) as a driver of their growth stories, namely Hospitals and Medicaid MCOs."
Shares of Centene closed at $55.43 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesCredit Suisse, Donald J. Trump
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