Centene (CNC) PT Lowered to $68 at Jefferies

Jefferies analyst David Windley lowered the price target on Centene (NYSE: CNC) to $68.00 (from $72.00) while maintaining a Hold rating.

The analyst comments "Caid MLR only +30bp QoQ evokes a similar reaction to MOH's 3Q; not yet all clear, but limits downside risk to '25. $1B+ of SDPs improved Caid rev optics during the qtr. CNC's wtd avg HIX rate request for '25 is -0.5%, the lowest among MCOs. A ~350bp mgn contraction (JEFe) based on that rate equals a $2 EPS headwind. Growing membership likely offsets <25%. Despite mgt confidence, our antennas are up on PDP mgns when prem grows to $13B+ in '25. Stay Hold."

You May Also Be Interested In

• Hyperion DeFi, Inc. (HYPD) PT Raised to $7.10 at Cantor Fitzgerald
• Benchmark Reiterates Buy Rating on NANO Nuclear Energy (NNE)
• Piper Sandler Downgrades Accelerant Holdings (ARX) to Neutral