Mizuho Securities Starts Centene (CNC) at Neutral
- Wall Street heads for subdued start as Netflix, oil drop
- Netflix (NFLX) Plunges Following Q1 Sub Miss, But One Analyst Sees Chance to Turn Bullish
- Oil prices drop as India's COVID-19 surge dents demand outlook
- Dollar firm as COVID-19 resurgence hits reflation trades
- Manchester United (MANU) Stock Falls as European Super League Collapses Amid Huge Fans Backlash
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Mizuho Securities analyst Ann Hynes initiates coverage on Centene (NYSE: CNC) with a Neutral rating and a price target of $65.00.
The analyst comments "We are initiating coverage of CNC with a Neutral Rating and $65 price target. CNC is the bellwether Medicaid provider, boasting a national market share of ~19%. As a result, the company is positively leveraged to the current Washington backdrop. A major concern for us is the company’s M&A strategy, given the high dependence on forecasted growth from acquisitions. In a market where assets are becoming more scare, more competitive, and more expensive, we worry about financial discipline in order to achieve its long-term revenue goals."
Shares of Centene closed at $61.72 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: H.C. Wainwright Starts Addex Therapeutics (ADXN) at Buy
- China Life Insurance Co. Ltd. (2628:HK) (LFC) PT Lowered to HK$23 at Goldman Sachs
- Brunswick Corp (BC) PT Raised to $120 at Jefferies as High HP Competitive Advantage Boosted by Reopening
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!