Jefferies Upgrades Aetna (AET) to Buy
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Price: $212.70 --0%
Rating Summary:
10 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies upgraded Aetna (NYSE: AET) from Hold to Buy with a price target of $51 (up from $47).
The firm comments, "The company was the only large diversified MCO we didn’t have a Buy rating on, but the recent sell-off, conservative 2011 MLR guidance that implies a sharp 200bps increase in 2H11 vs 1H11 (excluding PPD), and 2012 tailwinds provide an attractive entry point. Additionally, the company is more insulted than peers from potential "super committee" cuts (20% of revenue is MA/Medicaid)."
For more ratings news on Aetna click here and for the rating history of Aetna click here.
Shares of Aetna closed at $35.23 yesterday.
The firm comments, "The company was the only large diversified MCO we didn’t have a Buy rating on, but the recent sell-off, conservative 2011 MLR guidance that implies a sharp 200bps increase in 2H11 vs 1H11 (excluding PPD), and 2012 tailwinds provide an attractive entry point. Additionally, the company is more insulted than peers from potential "super committee" cuts (20% of revenue is MA/Medicaid)."
For more ratings news on Aetna click here and for the rating history of Aetna click here.
Shares of Aetna closed at $35.23 yesterday.
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