Cantor Fitzgerald Starts WellCare Health Plans (WCG) at Hold; Positive on Company, Shares Fairly Valued

Cantor Fitzgerald initiates coverage on WellCare Health Plans (NYSE: WCG) with a Hold. PT $55.00.

Cantor analyst says, "A number of Medicaid expansions and reprocurements are expected over the next 18 months, and although WellCare's ABD business is small in comparison to that of AMERIGROUP (NYSE: AGP), Centene (NYSE: CNC) and Molina Healthcare (NYSE: MOH), it has substantial operations in most of the largest states, including Florida, Georgia, Illinois, New Jersey, New York, Ohio, and Texas. The resolution of its legal issues and improving business trends, particularly its recent RFP win in Kentucky, are encouraging, although we believe the stock is fairly valued at its current level."

For an analyst ratings summary and ratings history on WellCare Health Plans click here. For more ratings news on WellCare Health Plans click here.

Shares of WellCare Health Plans closed at $51.74 yesterday.

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