Goldman Sachs Upgrades Health Net (HNT) to Buy, Cites Underlying Asset Value

Goldman Sachs upgraded Health Net (NYSE: HNT) from Neutral to Buy with a price target of $35, suggesting 28% upside.

The firm said the underlying asset value of the company "provides both a floor for the stock and also substantial upside potential, even as we recognize further downside risk to earnings."

Goldman sees 2012 EPS of $2.00, versus its prior view of $3.41 and below the new guidance of $2.35-$2.50. They also lower 2013/2014E EPS of $3.00/$3.50 vs. prior $3.92/$5.00.

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

Shares of Health Net closed at $27.26 yesterday.

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