Jefferies Slashes Price Target on Health Net (HNT)

August 6, 2012 8:57 AM EDT
Get Alerts HNT Hot Sheet
Price: $67.19 --0%

Rating Summary:
    4 Buy, 12 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Analysts at Jefferies maintained their Hold rating on Health Net (NYSE: HNT), but slashed their price target to $18.00 (from $30.00).

Analyst David Windley said "We wouldn't view Friday's 19% sell-off (vs 2% S&P gain) as a buying opportunity. The large 2Q miss introduced two new problems, after the wide 1Q miss. Of the MCOs to show strain this quarter, HNT's issues seem most likely to carry over to next year. HNT's bridge to doubling earnings in 2013 depends on several improvements and help from CA officials. We reiterate our Hold."

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

Shares of Health Net closed at $18.36 yesterday.

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