Barclays Maintains an 'Overweight' on WellPoint (WLP); Stronger 2011 with Better 2012 Visibility Leads to Positive Reaction

Barclays maintains an 'Overweight' on WellPoint (NYSE: WLP) price target of $87.00.

Barclays analyst says, "We are raising our estimates for 2011 and 2012, and slightly boosting our price target. Specifically, we increase our 2011 EPS estimate five cents to $6.95, which now implies an increase of 3.8% y/y. Our 2012 EPS estimate goes to $7.60 from $7.50, implying EPS growth of 9.3% y/y, due to our belief that there will be strong growth in 2012 following the implementation of MLR minimums in 2011. Finally, we are increasing our price target to $87, which represents a target multiple of 11.5x our 2012 EPS estimate of $7.60 per share."

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

Shares of WellPoint closed at $69.58 yesterday.

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