Jefferies Downgrades Anthem (ANTM) to Hold

September 13, 2016 6:49 AM EDT
Get Alerts ANTM Hot Sheet
Price: $123.49 --0%

Rating Summary:
    5 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 3 | Down: 2 | New: 0
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Jefferies downgraded Anthem (NYSE: ANTM) from Buy to Hold with a price target of $138.00.

Analsyt David Windley commented, "We modestly lower 2017E EPS, which is now 6% below consensus and reduce our price target to $138. While the stock is the least expensive in the group, we are concerned this year's significant SG&A were too deep. We believe 2017 EPS growth is limited by restoration of half of those cuts. The belt-tightening also potentially signals under-investment in the platform. Additionally, we note 1) Exchange exposure is highest in the group and is likely to create noise; and 2) while MA growth should resume in 2017, its overall impact to ANTM is small (contributes < 10% of revenue)."

For an analyst ratings summary and ratings history on Anthem click here. For more ratings news on Anthem click here.

Shares of Anthem closed at $128.58 yesterday.

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