Barclays Reiterates an 'Overweight' on Centene (CNC); Best Medicaid Play

Barclays reiterates an 'Overweight' on Centene (NYSE: CNC) price target of $56.00.

Analyst, Joshua R. Raskin, said, "After the recent pullback, we wanted to reiterate our positive investment thesis on Centene, as the best way to take advantage of the opportunities for long term Medicaid managed care growth. In particular, following the loss of the Ohio contract, we believe the stock corrected too severally on both an absolute and relative basis. We view this as an attractive entry point."

Raskin also highlighted Centene's diverse geographic positioning and track record on RFP contracts, and also downplayed the loss of the OH contract.

For an analyst ratings summary and ratings history on Centene click here. For more ratings news on Centene click here.

Shares of Centene closed at $43.07 yesterday.

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