Leerink Swann Downgrades Coventry Health Care (CVH) to Market Perform; Valuation Call
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Price: $49.99 --0%
Rating Summary:
1 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
1 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade CVH Now!
Leerink Swann downgraded Coventry Health Care (NYSE: CVH) from Outperform to Market Perform with a price target range of $34-37.
Analyst, Jason Gruda, said, "We are downgrading CVH as it has reached our valuation range ahead of the Supreme Court’s ruling on healthcare reform. Interestingly, the shares are 4% higher than where they were before CVH reported 1Q results and reduced its 2012 operating guidance by nearly $0.60/share. While we aren’t making a specific prediction, we believe there is a chance the individual mandate could be overturned by itself, which could pose a potential near-term risk to the shares. With yesterday’s gain, the partial relief in the troubled Kentucky Medicaid business announced yesterday seems to be priced in."
For an analyst ratings summary and ratings history on Coventry Health Care click here. For more ratings news on Coventry Health Care click here.
Shares of Coventry Health Care closed at $34.19 yesterday, with a 52 week range of $25.78-$37.86.
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Analyst, Jason Gruda, said, "We are downgrading CVH as it has reached our valuation range ahead of the Supreme Court’s ruling on healthcare reform. Interestingly, the shares are 4% higher than where they were before CVH reported 1Q results and reduced its 2012 operating guidance by nearly $0.60/share. While we aren’t making a specific prediction, we believe there is a chance the individual mandate could be overturned by itself, which could pose a potential near-term risk to the shares. With yesterday’s gain, the partial relief in the troubled Kentucky Medicaid business announced yesterday seems to be priced in."
For an analyst ratings summary and ratings history on Coventry Health Care click here. For more ratings news on Coventry Health Care click here.
Shares of Coventry Health Care closed at $34.19 yesterday, with a 52 week range of $25.78-$37.86.
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