Barclays Maintains an 'Equalweight' on AMERIGROUP (AGP); 3Q11 EPS Review: When it's Not Worse, it's Better

Barclays maintains an 'Equalweight' on AMERIGROUP (NYSE: AGP) price target raised from $49 to $57.

Barclays analyst says, "With the quarter, we are raising our EPS estimates for 2011 and 2012 and price target. Specifically, our 2011 EPS estimate increases to $3.80 from $3.70. This represents an annual decline of 29.8%, due to rate pressures and increasing cost trends. Next, our 2012 EPS estimate increases to $3.80 from $3.50, which represents the company's Medicaid market expansions offset by rate pressure. With the greater visibility from 3Q results, we are increasing our price target to $57."

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

Shares of AMERIGROUP closed at $55.59 yesterday.

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