Oppenheimer Maintains an 'Outperform' on Centene (CNC); Revising Estimates and Waiting on Investor Day
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Price: $64.45 -0.39%
Rating Summary:
19 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 19
Rating Summary:
19 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 19
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Oppenheimer maintains an 'Outperform' on Centene (NYSE: CNC) price target of $44.00 (from $53.00).
Analyst, Matt Nirenberg, said, "While the TX softness should not be surprising after last week's Molina announcement, the KY and MA issues drove the higher than expected reduction to guidance. Following this announcement, we are lowering our FY2012/FY2013 EPS estimates to $1.56/$2.74, from $2.75/$3.21 and our price target to $44...We expect to receive more color at this Thursday's Investor Day."
Nirenberg expects some volatility considering the company added unmanaged sections of the population. He is looking for costs to subside, and hopefully more information is given during the Investor Day Meetings.
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 $27.58 yesterday.
Analyst, Matt Nirenberg, said, "While the TX softness should not be surprising after last week's Molina announcement, the KY and MA issues drove the higher than expected reduction to guidance. Following this announcement, we are lowering our FY2012/FY2013 EPS estimates to $1.56/$2.74, from $2.75/$3.21 and our price target to $44...We expect to receive more color at this Thursday's Investor Day."
Nirenberg expects some volatility considering the company added unmanaged sections of the population. He is looking for costs to subside, and hopefully more information is given during the Investor Day Meetings.
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 $27.58 yesterday.
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