Jefferies Downgrades Anthem (ANTM) to Hold
- Earnings lift S&P to two-week high; M&A supports
- Unusual 11 Mid-Day Movers 10/24: (UNIS) (MBVT) (ACCO) Higher; (TDW) (INO) (BCC) Lower
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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)."
Shares of Anthem closed at $128.58 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Reiterates Buy on PPG Industries (PPG) - PT to $113
- KLR Group Cuts Price Target on Southwestern Energy (SWN) to $14
- Jefferies Remains Sidelined on FirstEnergy (FE) After Adjusting Forecast
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Downgrades
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!