Centene (CNC) Market Expansion Drives PT To $165 At Cantor Fitzgerald

Cantor Fitzgerald analyst, Steven Halper, reiterated his Overweight rating on shares of Centene (NYSE: CNC) and increased his price target to $165 from $145 after the company hosted its annual Financial Guidance and Investor Day which indicated that additional growth is expected from its leadership in Medicaid and expansion into new markets.

The analyst stated "We continue to view Medicaid as a strong base and good growth opportunity. The company is also building its Medicare Advantage business, growing its footprint in individual exchange markets and increasing its specialty offerings. The investments in technology and commitment to expand margins through operational efficiencies also add significant value. The shares offer about 28% total return potential based on our revised price target of $165, which was driven by higher margin assumptions in our model (accounting for Centene Forward)".

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 $119.09 yesterday.

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