Oppenheimer Maintains an 'Outperform' on Centene (CNC); Revising Estimates and Waiting on Investor Day
Tweet Send to a FriendGet Alerts CNC Hot Sheet
Price: $49.68 -1.6%
Rating Summary:
6 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 20
Rating Summary:
6 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 20
Trade CNC Now!
Oppenheimer maintains an 'Outperform' on Centene (NYSE: CNC) price target of $44.00 (from $53.00).
Analyst, Matt Nirenberg, said, "While the TX softness should not be surprising after last week's Molina announcement, the KY and MA issues drove the higher than expected reduction to guidance. Following this announcement, we are lowering our FY2012/FY2013 EPS estimates to $1.56/$2.74, from $2.75/$3.21 and our price target to $44...We expect to receive more color at this Thursday's Investor Day."
Nirenberg expects some volatility considering the company added unmanaged sections of the population. He is looking for costs to subside, and hopefully more information is given during the Investor Day Meetings.
For an analyst ratings summary and ratings history on Centene click here. For more ratings news on Centene click here.
Shares of Centene closed at $27.58 yesterday, with a 52 week range of $24.26-$50.98.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Matt Nirenberg, said, "While the TX softness should not be surprising after last week's Molina announcement, the KY and MA issues drove the higher than expected reduction to guidance. Following this announcement, we are lowering our FY2012/FY2013 EPS estimates to $1.56/$2.74, from $2.75/$3.21 and our price target to $44...We expect to receive more color at this Thursday's Investor Day."
Nirenberg expects some volatility considering the company added unmanaged sections of the population. He is looking for costs to subside, and hopefully more information is given during the Investor Day Meetings.
For an analyst ratings summary and ratings history on Centene click here. For more ratings news on Centene click here.
Shares of Centene closed at $27.58 yesterday, with a 52 week range of $24.26-$50.98.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- Microsoft (MSFT) Rally Not Over Says UBS; Raises PT to $40
- UPDATE: Michael Kors (KORS) Under-Appreciated; Canaccord Genuity Starts at Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Login with Facebook
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!
