Wedbush Upgrades Universal American Corp (UAM) to Outperform; Sanctions Lifted, Likely Acquisition Candidate; Trading at a Discount
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Price: $9.97 --0%
Rating Summary:
0 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Universal American Corp (NYSE: UAM) from Neutral to Outperform, price target raised from $11 to $13.
Wedbush analyst says, "We are upgrading Universal American on its release from sanctions and its potential role in an acquisition. We believe UAM is a likely acquisition target and would be a good strategic fit for several peers. Sanctions were lifted earlier this month and it is likely to benefit from a full marketing season ahead of the 2012 open enrollment period. The company’s MA enrollment grew 19% in its last non-sanction year. Currently Universal American is trading well below peers’ levels with respect to TBV (currently at a 7% discount); it is conservatively capitalized with no debt on its balance sheet (peers have debt / capital ratios of ~18% on average) and $40M in free cash."
For more ratings news on Universal American Corp click here and for the rating history of Universal American Corp click here.
Shares of Universal American Corp closed at $10.56 yesterday.
Wedbush analyst says, "We are upgrading Universal American on its release from sanctions and its potential role in an acquisition. We believe UAM is a likely acquisition target and would be a good strategic fit for several peers. Sanctions were lifted earlier this month and it is likely to benefit from a full marketing season ahead of the 2012 open enrollment period. The company’s MA enrollment grew 19% in its last non-sanction year. Currently Universal American is trading well below peers’ levels with respect to TBV (currently at a 7% discount); it is conservatively capitalized with no debt on its balance sheet (peers have debt / capital ratios of ~18% on average) and $40M in free cash."
For more ratings news on Universal American Corp click here and for the rating history of Universal American Corp click here.
Shares of Universal American Corp closed at $10.56 yesterday.
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