UPDATE: Stifel Downgrades WellCare Health Plans (WCG) to Hold
Get Alerts WCG Hot Sheet
Rating Summary:
12 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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Stifel downgraded WellCare Health Plans (NYSE: WCG) from Buy to Hold with a price target of $147 (unchanged)
Analyst Thomas Carroll commented, "After being the top performing MCO stock in 2016, we are downgrading shares of WellCare (WCG) to Hold as we step into 2017. Last year, WCG shares were up ~75%, outperforming the S&P500 by ~64pps. In our view, the New Year may be challenging for a host of reasons that could restrict returns. A key consideration is our vision for Healthcare Reform v2.0 and the likely acceleration of this inevitability (in our view) driven by the Trump Administration. This, in conjunction with near-term Affordable Care Act (ACA) uncertainties, likely keeps 2017 returns in check. WCG has achieved the lofty goals we had for the company across the past few years – a testament to its best-in-class management team – and we believe the shares are now valued appropriately. Target price remains $147."
For an analyst ratings summary and ratings history on WellCare Health Plans click here. For more ratings news on WellCare Health Plans click here.
Shares of WellCare Health Plans closed at $136.90 yesterday.
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