Barclays Maintains an 'Equalweight' on Coventry Health Care (CVH); Earnings in Line, Some Cash Deployed, but Plenty Still Available

Barclays maintains an 'Equalweight' on Coventry Health Care (NYSE: CVH) price target of $38.00.

Barclays analyst says, "With the quarter, we are increasing our 2011 EPS estimate, and maintaining both our 2012 EPS estimate and price target. Specifically, we are increasing our 2011 EPS estimate to $2.98 from $2.90. Next, we are maintaining our 2012 EPS estimate at $3.10 as we view 2012 to be a growth year for managed care after the implementation of minimum MLR regulations, but the company has indicated some possible pressure on margins. Lastly, we are maintaining our target at $38, which represents a target multiple of 12.8x our 2011 EPS estimate of $2.98 per share, and 12.3x our 2012 EPS estimate. Our price target previously represented 13.1x our previous 2011 EPS estimate and 12.3x our 2012 estimate."

For more ratings news on Coventry Health Care click here and for the rating history of Coventry Health Care click here.

Shares of Coventry Health Care closed at $31.74 yesterday.

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