Leerink Swann Downgrades WellPoint (WLP) to Market Perform; Valuation Call
Tweet
Share
E-mailGet Alerts WLP Hot Sheet
Price: $128.71 --0%
Rating Summary:
6 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 3 | New: 2
Rating Summary:
6 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 3 | New: 2
Join SI Premium – FREE
Leerink Swann downgraded WellPoint (NYSE: WLP) from Outperform to Market Perform with a price target range of $81-85.
Analyst, Jason Gurda, said, "We are downgrading WLP based on valuation ahead of the Supreme Court’s ruling on healthcare reform. WLP has risen 8% so far in June, and the stock is trading in line with its average P/E multiple over the last five years, despite the uncertainty created by the Court. While we aren’t making a specific prediction, we do believe that the risk that individual mandate could be overturned by itself cannot be ruled out, which could pose a potential near-term risk to the shares, and we would hold off on building any new positions."
For an analyst ratings summary and ratings history on WellPoint click here. For more ratings news on WellPoint click here.
Shares of WellPoint closed at $71.88 yesterday.
Analyst, Jason Gurda, said, "We are downgrading WLP based on valuation ahead of the Supreme Court’s ruling on healthcare reform. WLP has risen 8% so far in June, and the stock is trading in line with its average P/E multiple over the last five years, despite the uncertainty created by the Court. While we aren’t making a specific prediction, we do believe that the risk that individual mandate could be overturned by itself cannot be ruled out, which could pose a potential near-term risk to the shares, and we would hold off on building any new positions."
For an analyst ratings summary and ratings history on WellPoint click here. For more ratings news on WellPoint click here.
Shares of WellPoint closed at $71.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Downgrades Calix (CALX) to Hold
- Jefferies Downgrades LTIMindtree Ltd (LTIM:IN) to Underperform
- UBS Downgrades Hino Motors Ltd. (7205:JP) (HINOY) to Neutral
Create E-mail Alert Related Categories
DowngradesSign 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!
