Cantor Fitzgerald Downgrades Molina Healthcare (MOH) to Hold; Renewal in Ohio Failed

Cantor Fitzgerald downgraded Molina Healthcare (NYSE: MOH) from Buy to Hold with a price target of $36.00.

Analyst, Joseph D. France, said, "Molina's failure to win a role in Ohio's expanded Medicaid program is disappointing, the stock has nearly reached our target price, and we are lowering our rating to HOLD. The company rolled out new Texas markets on 3/1/12, it recently won new mandates in California and Washington, and the loss of its Ohio business is not effective until 1/1/13, but offsetting the loss of more than 20% of its revenue could be difficult, particularly since new markets are initially less profitable."

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

Shares of Molina Healthcare closed at $35.01 yesterday.

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