Centene (CNC) PT Raised to $125 at Wedbush on Execution

Wedbush analyst Sarah James raised her price target on Outperform-rated Centene (NYSE: CNC) to $125.00 (from $119.00) citing greater confidence around execution and updated growth outlook.

James commented, "The consistency of earnings throughout 8 contract implementations in 2014 and 3 so far in 2015 speaks to Centene's strong operating structure and cost cutting capabilities as well as management experience and skill in setting expectations; We are now more confident on 2015 and 2016 and are raising our estimates to $5.25 from $4.84 and $6.05 from $5.73 respectively. Our model update also includes enrollment of 350K in LA vs our prior estimate of 212K, the nursing home carve-in on TX STAR+PLUS beginning 3/1, and 29-47K lives from the IN expansion."

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 $111.49 yesterday.

You May Also Be Interested In

• UBS Downgrades Grand Korea Leisure (114090:KS) to Neutral
• Northrop Grumman (NOC) PT Lowered to $580 at Jefferies
• McCormick & Company (MKC) PT Raised to $52 at UBS, Neutral Rating Maintained