Barclays Maintains an 'Equalweight' on Molina Healthcare (MOH); OH Running Well, So We Focus on Growth

Barclays maintains an 'Equalweight' on Molina Healthcare (NYSE: MOH) price target raised from $28 to $30.

Barclays analyst says, "Last night, Molina reported earnings for the second quarter which were solidly better than our expectations, though there was some help from certain one-time benefits. It appears that operations were ahead of internal projections as well for the second quarter, which is leading to a boost to guidance from the company. We would suggest that the strength in the core health plan operations is more than making up for the persistent weakness in the Medicaid Solutions segment."

"Our 2011 EPS estimate goes to $1.55 up from the previous estimate of $1.47 per share (we were at $2.20 per share prior to the 3:2 stock split). Our 2012 EPS estimate goes to $1.75 up from the previous $1.73 (we were at $2.60 per share for 2012 prior to the 3:2 stock split)."

For more ratings news on Molina Healthcare click here and for the rating history of Molina Healthcare click here.

Shares of Molina Healthcare closed at $26.78 yesterday.

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