Centene (CNC) PT Lowered to $80 at Cowen

February 8, 2021 6:14 AM EST
Get Alerts CNC Hot Sheet
Price: $62.80 +0.92%

Rating Summary:
    23 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 8 | New: 31
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Cowen analyst Charles Rhyee lowered the price target on Centene (NYSE: CNC) to $80.00 (from $83.00) while maintaining an Outperform rating.

The analyst commented, "We think the biggest focus in 4Q will be on updates to CNC's 2021 guidance since its Investor Day in December. We look for CNC to size the impact of MA headwinds, such as risk adjustment and increase to Medicare physician fee schedule, as well as updated assumptions about eligibility redeterminations in Medicaid. We're revising our ests and updating our model to reflect the Magellan acquisition."

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