Jefferies Upgrades Molina Healthcare (MOH) to Hold

Jefferies upgraded Molina Healthcare (NYSE: MOH) from Underperform to Hold with a price target of $24.00 (from $19.00).

The firm comments, "After speaking with management, we see a high probability that MOH strikes a California pricing deal, similar to HNT's, in the coming weeks. This would reduce downside risk and be well received by the market. Consequently, we are upgrading to Hold ahead of this positive catalyst. We value the benefit to MOH's profitability at $5. Importantly, without this deal, we believe the 2013 consensus is high."

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

Shares of Molina Healthcare closed at $26.41 yesterday.

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